Valley financial executive hired to oversee wind down of Georgia company

Jeremiah Foster, president and founder of Resolute Commercial Services in Scottsdale, was recently appointed to act as the wind down officer for Kabbage, Inc. KServicing after the servicer and subservicer of small business loans was approved for liquidation earlier this year.

“This project is a culmination of our 15 years of helping distressed businesses on the West Coast,” Foster said in a press release. “Many qualified firms were in the running for this project. It was an honor to be appointed to help guide this national company headquartered on the Southeast Coast through this process. We are excited to be recognized for the excellent work we are doing across the country to resolve the financial challenges facing companies.”

The Arizona-based executive will oversee the multi-year engagement to wind down the bankruptcy and liquidation estate for KServicing, including managing the existing claims pool in excess of $3 billion, facilitating the transfer of loans to third parties, investigating causes of action, initiating litigation, administering claims and processing all recoveries, according to the release.

Foster officially began work on the project in June and Resolute has already made significant e-coveries for the estate.

Resolute works with middle market companies, helping leadership assess, diagnose and resolve challenging financial and operations issues. Under the guidance of the firm’s team of industry leaders, Resolute has helped over 300 companies navigate transition through the different states of distress, many with positive resolutions.

Kabbage, Inc. KServicing is a financial technology company founded in 2010 and headquartered in Atlanta, Ga., providing working capital to small businesses. From 2020–21, KServicing provided and facilitated a total of $7 billion in necessary funding to small business owners through Paycheck Protection Program loans during the COVID-19 pandemic, making it one of the largest PPP lenders in the country.

Learn more about Resolute and the advisory and financial services available to businesses at resolutecommercial.com.