I was practically laughed at when I went to Bank of America who I have had a 20 plus year relationship with. They handed me a cheap pen and sent me on my way. I had read about the high risk / Angel investment companies that charge higher than normal rates but extend credit to new businesses once in a New York Times article. The article spoke favorably about Kabbage so I went on line and filled out a simple application and in a day I had a $100,000.00 line of credit. Having access to these funds allowed me to expand my inventory and supercharge my business. I never would have been able to achieve such phenomenal growth had I not had access to the line of Credit that Kabbage provided me. My company is a distributor that imports its products so I have to have inventory on the shelf and turn it fast so I can bring in more. Kabbage helped me triple my business plan revenue estimates.
Bank of America was so impressed in fact they paid me an unsolicited visit to compliment me on my companys outstanding cash flow and wanted to know if I was aware of the other services they provide such as business a LINE OF CREDIT which they would be happy to discuss with me. This time I showed them the door!
Unlike any other business its the objective of all of these lending companies to make money, Its different with Kabbage. There are no hidden fees or surcharges. What you pay is clearly explained. They arent vultures. My rep Tom Lynch is a human being who listened to me and works with my company. Kabbage isnt just a third part lender to me. They are a partner that cares and listens. If you are shopping for financing or looking to expand your business you owe it to yourself to at least try the guys. On Ebay and Amazon my store is Belowwholesalelighting. We are processing over 7000 orders per month in a little over 2 years in business with very little working capital to start. I plan on repaying the favor and using them to help bring my business to the next level.