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Small biz lender stops working with "assault weapon" retailers

Dan Primack, author of Pro Rata

Kabbage co-founder and CEO Rob Frohwein. Photo by Brendan Moran / Getty Images.

Kabbage, an online lender to small businesses, said on Monday that it will stop funding for businesses that sell or manufacture assault-style rifles or ammunition. It also won't lend to businesses that sell any firearms to those under 21.

Why it matters: Kabbage is a significant capital source for small businesses, having lent more than $4 billion to over 130,000 customers, and is now the latest company to change policy in the wake of last month's massacre in Parkland, Florida.

Go deeper

Kadia Goba
7 mins ago - Politics & Policy

The dark new reality in Congress

National Guard troops keep watch at security fencing. Photo: Kent Nishimura/Los Angeles Times via Getty Images

This is how bad things are for elected officials and others working in a post-insurrection Congress:

  • Rep. Norma Torres (D-Calif.) said she had a panic attack while grocery shopping back home.
  • Rep. Jim McGovern (D-Mass.) said police may also have to be at his constituent meetings.
  • Rep. Adam Kinzinger (R-Ill.) told a podcaster he brought a gun to his office on Capitol Hill on Jan. 6 because he anticipated trouble with the proceedings that day.
Go deeper (2 min. read)Arrow
Jonathan Swan, Zachary Basu
9 mins ago - Politics & Policy
Off the Rails

Episode 3: Descent into madness

Photo illustration: Sarah Grillo/Axios. Photos: Tom Williams/CQ-Roll Call, Chip Somodevilla/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. This Axios series takes you inside the collapse of a president.

Episode 3: The conspiracy goes too far. Trump's outside lawyers plot to seize voting machines and spin theories about communists, spies and computer software.

President Trump was sitting in the Oval Office one day in late November when a call came in from lawyer Sidney Powell. "Ugh, Sidney," he told the staff in the room before he picked up. "She's getting a little crazy, isn't she? She's really gotta tone it down. No one believes this stuff. It's just too much."

Go deeper (6 min. read)Arrow
Lachlan Markay
11 mins ago - Politics & Policy

Convicts turn to D.C. fixers for Trump pardons

Trump confidante Matt Schlapp interviews Jared Kushner last February. Schlapp is seeking a pardon for a biotech executive. Photo: Samuel Corum/Getty Images

A flood of convicted criminals has retained lobbyists since November’s presidential election to press President Trump for pardons or commutations before he leaves office.

What we're hearing: Among them is Nickie Lum Davis, a Hawaii woman who pleaded guilty last year to abetting an illicit foreign lobbying campaign on behalf of fugitive Malaysian businessman Jho Low. Trump confidante Matt Schlapp also is seeking a pardon for a former biopharmaceutical executive convicted of fraud less than two months ago.

Go deeper (2 min. read)Arrow

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