Kabbage

I drove for UBER, UBER went to Washington DC to get a special relief loan for UBER drivers funded by Kabbage. UBER sent me a special application code and a 1099 document with a link to Kabbage to apply for a special relief loan. I was approved mediately. They sent me an email to take the loan before it expired. There was no link or any way to take the loan on there website. After multiple emails and phone calls with no response on either of what to do it expired. Just another scam company taking government money for them self. All they have to say during an audit is say see here we sent him an email to collect and he didn't. WHAT A RIP OFF COMPANY.

Whitley Lovelace was great at listening my request and responding promptly. When one our client check was returned, I made an online request to transfer money from my line of credit to my business checking account to cover up the difference we needed to pay for our payroll and other checks. Luckily, The same day our client wired the money after apologizing. Next day when the wired money was confirmed I called Kabbage to stop the transfer since there was no need anymore. Whitley listened carefully and consolidate with her manager and the money transfer was reversed immediately. Thank you Whitley!

I just read an online article in Forbes Kabbage PPP Small Business Loans. I got a good laugh that a respected media source like Forbes would feature a company such as Kabbage. Kabbage takes advantage of small business that hasn't been around long enough to establish credit or has a lower credit rating. Among the many negative aspects of Kabbage, the fixed-fee structure (meaning that early repayment does not save interest), non-transparency, monthly fees, and astronomical rates compared to other online lenders. Beware, this company is NOT a small business' friend.

Zelenka was very helpful in helping me understand the ins and outs of how some of the system worked. A few things were confusing at first, but she was able to clarify the difference between "unauthorized" and "unavailable". I appreciated her time and clarity.

Unless you've truly exhausted all lending options, do not do business with this company. Their rates are absolutely insane, even if your credit score is phenomena(which ours was) the rates are astronomical. They dangle no pre-payment penalties in front of prospective business customers, but the devil s in the details. Their loans are all loaded up front with huge fees and those fees only drop significantly towards the end of the loan term. Should you choose to make a significant payment on your loan (like we did after one month), they use those monies to pay off the months at the end of your term FIRST and work backwards. The backend payments have fees that are significantly less. In our case, the fees for the first six months are 790.00 per month, but beginning month 7, they drop to 186.00 per month.

It seemed that I met their basic requirements of annual revenue, credit score, and time of business but it took nearly a month for them to provide me with a very vague rejection. During that time, I kept calling and was told over and over again that they would call back that day or the next, and they never did. Or they would ask for something that I wasn't sure would be helpful, but I would qualify that, send what they needed, and then ended up waiting even more. I realize they are advertising a holistic review and would likely want to be thorough, but then that warrants better response times and an actual response to why something is rejected. In other words, it should not take a month to provide that type of answer especially when, in that time, I could have gone elsewhere or improved whatever it was they needed me to improve.

Read all other reviews and slightly put off initially. However after more research and speaking with the representatives on the phone, this is a short term loan to bridge a financial gap that you know you can pay back quickly.

I only consider using this service with the intention of paying back within 30 days. Took out 5k and paid it back within a week with minimal fees was extremely helpful for my business to keep everything flowing.
Taking a large sum and then paying back over 6 months is asking for trouble and all the negative reviews seem to be because of this. If a longer term loan is what you need to do for your business then go get a conventional loan and DO NOT use this service.

In summary, if you need a short term loan whilst a payment clears and you can pay back very quickly, this is a great service.

In business one encounters many people who simply "go through the motions." Greg Bianchini is not one of those people. Greg is an invaluable asset to a service many might perceive to be nothing more than an online product. He brings a very personal, hands-on approach. While I am still a bit perplexed and frankly frustrated at my loan not being approved, I'm not leaving upset--due solely to the level of service Greg provided. It must be difficult to provide the extraordinary level of service, such as that which Greg delivers, only to not be supported by the product itself. I believe it's a disservice to the credit consultants of Kabbage as well as the prospective customers, such as myself, to not disclose specific underwriting requirements that were viewed as unsatisfactory.