It was a true joy to get a loan. No hassle. Good customer service.
If I could've given Zero stars I would've. We were thinking about expanding our company in the fall and thought it would be a good idea to set up some additional funding in case we needed it. We had been bombarded with both internet and regular mail advertisements from them and figured that we would give them a try. I filled out the application and waited for a reply. The automated system said that I needed to connect more services in order for them to get a better picture of my company's revenue statements. Being a company that never purchases anything on credit, we only have one revenue stream and it goes through our business checking account. I called and spoke with * and was told to give it a few days for the underwriters to look at our application and call back for an update, I called back a couple of days later and spoke with * and he told me that I didn't qualify and that my application would never be seen by an underwriter because I didn't meet their standards. According to the application, I had to have a 500+ credit score(I Do), been in business over a year(I Have... almost 4 years), and have a minimum monthly revenue stream of $4,200(which I have triple that amount), but apparently there are hundreds of qualification points that they look at in order to determine your approval that they don't tell you about. Unfortunately, they rely on a computer program to look at all these factors and never let a human see anything until an approval happens. As far as those "hundreds of points of qualification", why didn't they ask them in their application or include them in their advertisements. Seems like false advertising and data gathering to me. I didn't have to have the funding, so in a way I should be thankful. I think the main reason I am angry is that they wasted my time and weren't completely honest about their approval process from the start. In a world where your company reputation can make you or break you, why take the chance with speculative business practices. Be upfront and honest, state your requirements clearly, and have more human involvement in your decision making process. I have asked that my file be closed and my information not be shared with anyone. * assured me that it was closed and safe... it had better be!
*Personal information redacted by admin
Application was quick, access to funds were quick, very good customer service
Kabbage has been a great resource for the cash flow of my business.
Your Company is very professional and gives me instant flexibility for my business needs.
Very simple and easy. Nothing better out there. Thanks Guys.
The process was easy and painless. Not complicated or time consuming.
A company that charge 60% interest year! Nothing to say more! Be aware.
Overview
Kabbage has a rating of 3.2 stars from 307 reviews, indicating that most customers are generally satisfied with their purchases. Reviewers satisfied with Kabbage most frequently mention customer service, small business and great job. Kabbage ranks 3rd among Business Loans sites.
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- Atlanta, GA
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Business History
Before founding Kabbage, Rob established, led and advised a number of successful businesses, including LAVA Group, U.S. Micro Corporation and Surgical Biologics. Additionally, he served in business development and legal capacities for ZapMedia and Security First Network Bank. Rob practiced law with Troutman Sanders LLP, co-authored three books on intellectual property and co-hosted a career-centered radio program sponsored by USA TODAY.
As Kabbage expands its workforce and increases its support of small businesses, Rob helps ensure the company maintains its unique culture and considerable laughter quotient. One of his favorite small businesses is ACME Farms + Kitchen, an online food purveyor Rob admires for their efficiency and ingenuity in creating interesting and delicious meals.
Company Representative
- Sitejabber’s sole mission is to increase online transparency for buyers and businesses
- Sitejabber has helped over 200M buyers make better purchasing decisions online
- Suspicious reviews are flagged by our algorithms, moderators, and community members
- Sitejabber’s sole mission is to increase online transparency for buyers and businesses
- Sitejabber has helped over 200M buyers make better purchasing decisions online
- Suspicious reviews are flagged by our algorithms, moderators, and community members
Hi Brian- Thank you for your review. We completely understand your frustrating and apologize for your disappointment. We would never hold information back from your intentionally. The hundred's of data points your reps informed you of, are technically correct. These data points are located in the qualification algorithms we use. When you link your business data channels, our algorithms automatically evaluate. Unfortunately for some, our business model is automated. This can make for quick and human-free qualification, which is a fit for some small business owners, but not all. All that being said, thank you again for leaving your thoughts. We wish you nothing but the best moving forward.
- The Kabbage Team