Kabbage Small Business Cash Loan Review

Information verified correct on January 19th, 2017

Apply for a line of credit up to $100,000 and take your small business to the next level.

Are you looking for a way to invest in your business without tapping into your cash flow? Kabbage offers an online business loan solution that gives you an ongoing line of credit for your business. You can have between $2,000 and $100,000 available to you through an online account for convenient access. Kabbage also gives you alternative ways to get your application across the line.

Product NameKabbage Small Business Cash Loan
Min Loan Amount$2,000
Max. Loan Amount$100,000
Loan Term1-12 months
Turnaround TimeNext Business Day
Total Cost of Borrowing $100Varies

Pros

  • Convenient application and access
  • Borrow enough for your business
  • Get a instant decision

Cons

  • Only for the business use
  • Fees of 1.5% - 12% of loan amount
  • Revenue must be over $50,000 a year

How does it work?

You’ll need to apply online for a Kabbage loan and create an online account. When you do this you’ll need to supply details for your business checking account as well as any other accounts you choose to provide – this will help Kabbage determine how much it can lend to you. You’ll find out your approved loan amount within minutes and have access to it instantly after approval. You’ll only be charged fees when you draw on your credit line.

Features of a Kabbage loan

Kabbage provides an innovative loan that you might want to consider for your business. The following features are on offer:

  • Help improve your eligibility. Kabbage gives you the option of linking up several of your business accounts to help improve your chances of being approved, or to be approved for a higher amount. You’re required to link up your business checking or PayPal account but you can also link your UPS, eBay, Amazon, Yahoo or QuickBooks accounts among others.
  • Borrow enough for your business. There is a range of loan amounts available to apply for between $2,000 and $100,000. You can use just enough as per your business needs.
  • Minimal fees. You will not pay establishment fees, monthly or annual fees and there are no penalties for making payments early.
  • Convenient application and access. You can apply online within minutes and you’ll have ongoing access to your line of credit 24/7.
  • Will not affect your credit. Applying will have no effect on your credit. It’s only when you accept the credit line that a credit inquiry will be made.
Rates last updated January 19th, 2017
Unfortunately, none of the personal loan providers have a loan for that credit score. It you are urgent need of a small loan, you might want to check out a short term loan.
Max. Loan Amount Term of Loan Turnaround Time Total Cost of Borrowing $100
$100,000 1-12 months Next Business Day Varies Go to site More

How much will you pay to use your line of credit?

It’s important to note that you will only pay when you draw on your credit line. You won’t be charged interest for a Kabbage loan, but you will be charged fees. The fee structure is as follows:

  • 1-12% of your selected loan amount for the first two months
  • 1% of your selected loan amount for the remaining four months
  • Every month for six months, you pay back 1/6th of the loan amount plus the monthly fee

Ready to apply?

Click ‘Go to Site’ to get your online application started. Your business will need to have a valid checking account and/or PayPal account to apply. Create a Kabbage account online and link up your details, and you also have the choice of linking up other business accounts, including:

  • Authorize.Net
  • Stripe
  • QuickBooks
  • UPS
  • eBay
  • Amazon
  • Yahoo

You’ll find out if you’ve been approved within minutes and then receive access to your approved credit line soon after.

Frequently asked questions

Who is Kabbage backed by?

Kabbage is funded and backed by Mohr Davidow Ventures, BlueRun Ventures, Thomvest Ventures, the UPS Strategic Enterprise Fund and other investors.

In which countries is Kabbage is available?

At the moment, Kabbage is available in the United States and the United Kingdom. They are working on expanding to more countries soon.

Where can I get my loan deposited?

Either in your business checking account, which will take 2-3 business day. You could also have funds deposited in just a few minutes if you have a PayPal account.

Kabbage offers an innovative lending platform for small businesses across America. If you’re interested in a line of credit, small or large, find out if you’re eligible today.

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