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Here’s what consumers have asked with answers from Kabbage staff and previous consumers.
I definitely would not recommend Kabbage to anyone, but especially to someone starting a new business. The interest and fees will kill your new business before you've even had a chance to get it started. I own a small business (2 employees, $200K in annual sales) that is over 15 years old, and the Kabbage loan I took out for $25K for an expansion nearly bankrupted my business. There are better ways to find funding for a new business - grants are out there for women who want to start a business, you can try your luck at crowdfunding (look at Kickstarter, Indiegogo, Rocket Hub, Crowdrise, Angellist, Quirky, and others), approach local friends or family members who would like to invest in your business (you can use ZimpleMoney, com to keep track of their loan payments). Kabbage is a stupid and dangerous way to start up a business. Only a complete idiot would do that.
Thanks for your question, John. Kabbage's loans are fundamentally different in structure from a traditional loan. Interest isn't charged on the loan balance, and a customer can pay a loan back early and save on future fees. We encourage you to take a look at our "How it Works" page on our website for help understanding the fee structure. If you have any questions not answered there, you can give us a call at 888-986-8263. Thanks for getting in touch!
Hi Jessica, you can go on their site and enter the amount you want to "borrow" and Kabbage will give you this information up front before you agree to receiving the cash. I borrowed $21,000 and paid nearly $8,000 in interest and fees. It HURT my business, very much! I strongly encourage you to try other companies or look to local lending networks or a local bank.
Monstrous interest. Loan sharks would be intimidated. 40%-100% APR. If you get them to quote a rate it is not an APR.
Thanks for your question, Jacovie. Kabbage's loans are fundamentally different in structure from a traditional loan. Interest isn't charged on the loan balance, and a customer can pay a loan back early and save on future fees. We encourage you to take a look at our "How it Works" page on our website for help understanding the fee structure. If you have any questions not answered there, you can give us a call at 888-986-8263. Thanks for getting in touch!
Yes we offer Small Business Loans, details below. A Kabbage loan requires, one year or more in business with over $50,000 a year in revenue and any business can apply. I hope this answers your question and you can visit our website anytime and check out our Help Center for additional information. Kabbage Team
A Kabbage loan requires, One year or more in business with over $50,000 a year in revenue. I hope this answers your question and you can visit our website anytime and check out our Help Center for additional information. Kabbage Team
Hi Aaron! My apologies for the late response! We use your financial information to determine your eligibility for credit. We ask that you link this information online so we can assess your business performance quickly and in an automated fashion and save you from the hassle of having to prepare financial statements or digging up old paperwork. We take your security very seriously and follow the required information security practices to maintain the integrity of your information. We can never see or store bank/data source login information, and we have no access to save or change your bank account data. Kabbage customers have securely connected more than 1 million data sources to be automatically reviewed. Were A+ rated by the Better Business Bureau and are TRUSTe certified for our commitment to customer privacy. For more information, review the Security of Customer Information section of our Privacy Policy. I hope that helps! Let us know if you have any questions. - The Kabbage Team
We offer Small Business Loans, details below. A Kabbage loan requires, one year or more in business with over $50,000 a year in revenue and any business can apply. I hope this answers your question and if you have any questions not answered here, you can give us a call at 888-986-8263. Thanks for getting in touch! Kabbage Team
A: Thanks for your question, Val. Kabbage's loans are fundamentally different in structure from a traditional loan. Interest isn't charged on the loan balance, and a customer can pay a loan back early and save on future fees. We encourage you to take a look at our "How it Works" page on our website for help understanding the fee structure (it's incredibly simple; we promise). If you have any questions not answered there, you can give us a call at 888-986-8263. Thanks for getting in touch!
