Kabbage

Fast Funding and Great Customer Support!. kabbage.com Thanks for existing. Your service is out of this world.

I have been a Kabbage user for over 2 years. Kabbage has helped grow my business by providing me with up to 40k to purchase inventory. Everything has been fine for the last couple of years up until 2 months ago. Recently I have been having problems with some kind of glitch in their autopay system. The autopay feature, (which is no choice of my own) has been pulling more than it is supposed to for my monthly payment. Kabbage is cleaning out my paypal account as soon as I make an online sale. It will continue to withdraw funds until there is nothing left. I had contacted them and they did fix the problem after 3 days (which I don't have the time for) with no explanation of why. So now the next month goes by and it happens again. Long story short, if you're an entrepreneur or other type of small business owner, stay away from this. There are better service providers out there and Paypal now offers a similar type of program with lower interest rates. Kabbage for the last couple of months has caused me nothing but unnecessary stress. Please keep in mind that I was not late on payments and I did have the funds available. Thier computer system or somone behind it is malfunctioning.

I signed up with them accepting what was tantamount to their 70% apr after you factor in fees to establish business credit, pay to play as it were.
Was told from the door they reported to business credit agencies and nothing has been reported. Can't get the same answer from anyone.
Last person I spoke with said they didn't, and that was their policy, but then I said that was the whole reason I got the loan in the first place at that APR, she proceeded to double back and say well maybe they do, she didn't know, she was new. This is to say she was trying to BS me on the phone about something she didn't know. The same behavior displayed by the initial sales rep that talked me into the loan under false pretense, and the same behavior displayed by everyone there since trying to get this straight.
With COVID, I need every last bit of positive reporting. These guys would have gone a long way to have shown my track record. My EIDL declined due to a lack of reporting on my business. They are NOT here to help anyone. As for these PPP loans, considering how they justify charging what they do by not being a bank' how are they legally allowed to be involved with them, by not being a bank.
They will lie to you and take whatever they can from you and leave you without holding up their end of the deal. Period.

I received an email on 4/17/2020 from Kabbage advising that my company, Nautilus Commercial Inc. was approved to receive the PPP loan in the amount of $25K. So I then logged onto Kabbage's website to take the next steps so my company could receive these funds. Kabbage needed me to verify our bank information so I completed that section and hit send. After that I just waited for it to go through but it seemed to be stuck and eventually timed out. For 6 days now I have been attempting to complete this on the Kabbage site but it continues to time out. I have called and left messages and sent emails but never received a response. This morning I received an email from Kabbage advising that if I don't complete the bank information this loan will no longer be available in 4 days. Is this some type of scam? We really need this money to help our company and am shocked at the lack of response from anyone there. Now we are stuck and am not sure what our next steps should be other than calling the SBA directly and report this company to the BBB.

We paid them a premium for a revoling line of credit- we are health care on the fornt lines of COVID, have bene great customers and never missed a payment.

Today, they CANCELLED OUR REVOLING LINE, citing the need to "diligently help small business".

DO NOT USE KABBAGE> There are so many better, honest choices.

When I tried to call their so-called customer support, they barked on me as dogs. They are full of hate to young business ladies. I think they unable to speak normally, or they hate people who were born in foreign country. They didn't listen what I tried to say. All I heard was only "You have to pay then call back." I had no chance to solve problem that they caused. They made big problem with my bank account. They grabbed money from both my bank account and paypal account, took my money behind my back, and that was not a due day at all. I lost a lot of money to cover $1000 overdraft they made on my account. I had heart attack, huge stress and was unable to work for a few days when tried to solve problem they caused. Nobody wished to help me. I feel that they enjoyed by making me nervious, they were happy to hear that they caused problem to me. When I tried to tell them that it is not due day yet and they have to give my money back, they disconnected phone. When I called again, asked to give refund of what they took without permission, they disconnected phone again. Very rude, especially male worker from "customer relationship team" (or how ever they call that dept) They took all money that my buyers paid to me, took everything I had on bank account, caused me $1000 overdraft. They are angry moneymakers that hates young business women - this is my experience. I would like to tell everyone to never use this service.

Ms. Zelenka Harris, was very professional and understanding of our situation at this time. Ms Harris, was a pleasure to speak with she handled this matter in a timely manner.

I had originally applied for a PPP loan through Lendio by the original June 30th deadline. They referred me to Kabbage to continue my loan application through them instead. I struggled to complete my application because the website kept crashing and giving an error message. After talking with a rep, they had to reset the application completely. I applied all over again, only to get the error and crash message again. I waited a few days, tried one more time, and it finally went through. Then, they kept sending automated emails for me to upload additional documents, that they didn't initially request when I had applied. They kept asking for a schedule C, which my business doesn't have. After emailing and getting no response whatsoever, and calling and waiting only to get hung up on, I finally talked to someone, who told me they would have to change my business structure on my application on their end, and told me one more additional document that I should upload. I uploaded it that day. About a week later, I get an automated response that they've closed PPP applications and mine didn't go through. I called to ask why, and they said I never uploaded my schedule C. I told the rep that my business doesn't have one, that they're asking for the wrong document, and I had uploaded the correct ones and was waiting for them to change my business to a corporation structure so it could be processed. But it was too late. This cost me thousands of dollars of forgivable loans that I could absolutely have used for payroll. They were utterly negligent and very hard to reach through the entire application process, which took over a month. If I would have known this from the beginning, I would have applied through another lender.

I would not recommend Kabbage. You will be paying A LOT of money in interest and will have to pay it back extremely fast. You will have to pay it back over 6 months, but not evenly. For example, if you borrow about $10k, be prepared to pay around $3k of it back the following month.

If you need an extension, sometimes it will be granted and sometimes it will not. When you are denied an extension, Kabbage will continuously take every penny from your Paypal account multiple times per day. Within 5-10 minutes of every deposit into your Paypal account, Kabbage will take all of your funds out.

I called for an extension because I had to attend a funeral and got behind, and was denied the extension. Then the woman on the phone was rude to me and told me that "If I was not willing to pay..." and then explained the methods that would be used to get the money from me. I was willing to pay, just not capable at that moment. I was trying to work something out and she was very cold with me and told me to do what I could to find the funds. If she had given me a week or two I could have come up with the money.

This company preys on the weak. They will give you thousands of dollars within minutes, but in my opinion it is too good to be true and I would avoid this at all costs.

Before COVID-19, I was a satisfied customer, but they have been a disaster to deal with during this already stressful time. I have to call multiple times a day every single day to maybe get lucky to get someone on the phone. I've gotten a person twice in the last 6 weeks. I've emailed, I've left voicemails and have received ZERO communication.

Unlike other companies with whom I have loans who have me extensions until we are able to legally reopen, Kabbage gave me a 7 day extension and then went ahead and cleared out ALL my accounts that have ever been tied to this business.

I requested that my personal bank account be removed as I haven't worked since March 15th and need every penny for my family. Was told it would be done and guess what... they cleared out that account 2 days ago as well. After already clearing out my business account.

These are unauthorized payments. Period. As I've stated I have no income at the moment personally or on the business side. And I removed my personal bank account information so that they couldn't take my personal funds.

If you want to deal with a company who doesn't care about you in the middle of a crisis, go ahead and move forward. But if you want a company with a soul, move along.

I plan to never do business with them ever again. And will not be suggesting any of my other small business friends use them.

I was referred to Kabbage for my PPP and that was the WORST decision I could have made! There was an error on my PPP amount where they said that they would be paying me $4294 when based on the math of my Schedule C, I should be paid $6616. 25. The problem was that when I tried to resolve this before signing the loan, Kabbage was Completely unreachable! I tried for months, spent hours and hours and days and days of my time to resolve this, and NEVER did anyone pick up one of my phone calls or answer an email. So by the time came for the first round of the PPP to finish, I had 1 option only, either sign for the mistaken amount and get something instead of nothing, or not sign and get nothing... So I signed in the hopes that I could resolve after the fact with them. However, when Kabbage actually did respond to my emails, over 8 months after I started trying to contact them, they said that because I signed the loan, that they couldn't do anything for me, and sorry, that that was not the answer I was hoping for... What was I supposed to do? If I didn't sign, I would have nothing, and their answer would have been, sorry, but the deadline has passed, nothing we can do, and oh, sorry that's not the answer you're looking for... In short, get your loans or PPP from ANY Other institution other than Kabbage! They are there just to get their payout from the government and do NOT care about the people that own small businesses, like me, and that actually need the money. They have fully automated their service so that they never have to interact with the actual people and any phone numbers and emails on their site are useless when there is actually a deadline, they just automate their phones to hang up on you after you wait for 30 minuets... Choose anyone else! They cost me $2300 and don't care at all...