Kabbage Small Business Cash Loan Review August 2017

Apply for a line of credit up to $150,000 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 $150,000 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 Line of Credit
Min Loan Amount$2,000
Max. Loan Amount$150,000
Min APR From
Minimum Loan Term0.5 year
Maximum Loan Term1 year
RequirementsMust have been in business for at least 1 year. Revenue minimum is $50,000 annually or $4,200 per month over the last 3 months.

Pros

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

Cons

  • Loans for business use only.
  • Fees of 1.5% to 12% of the loan amount.
  • Business revenue must top $50,000 a year.
  • In business for at least one year.
  • Minimum of $50,000 in annual revenue or $4,200 per month over the last three months.

How does a Kabbage line of credit work?

Kabbage looks at how your business is doing, rather than your credit score, making the application process quick and easy.

  • Apply online. Create an online account by providing your email and creating a password. Tell Kabbage the name of your business and the type of industry it is.
  • Link your business information. Link your business’s checking account, along with any other accounts including PayPal, quickbooks or Amazon.
  • What you need to qualify. Your business has to be at least one year old and have a minimum of $50,000 in annual revenue, or $4,200 per month over the last three months.
  • Quick decisions. In minutes you will be told if you’re approved and how much money you are qualified for. You’ll have access immediately and are only charged a fee once you draw on your credit line.

Getting your funds

Once you’re ready to start drawing money from your line of credit, you’ll have three options:

  • Kabbage card. Will give you access to buy inventory, order supplies, jump on timely business opportunities or cover unexpected expenses.
  • Dashboard. Use the Kabbage dashboard to draw funds deposited directly to your checking or PayPal account. You can take out money as often as every 24 hours.
  • Kabbage App. With this app for iOS and Android, you can apply for a loan and access your money.

Benefits of a Kabbage line of credit

Kabbage looks at your business’s performance, not just your credit score, giving you the money you need to improve your business. Here’s how they help:

  • Improve your eligibility. The more business accounts you provide to Kabbage, the better your chances at getting the loan you need. Link up business accounts like your checking, PayPal, eBay, Amazon or QuickBooks
  • Borrow enough for your business. You can borrow as much as you need for your business from $2,000 to $150,000.
  • 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.

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

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’ button on this page to get your online application started. Have your checking or PayPal account ready, and include any other accounts your business uses, including:

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

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

Bottom Line

Kabbage is a quick and easy way to get money for your business. They offer the convenience and flexibility without high fees and APRs.

Frequently asked questions

Your account allows Kabbage to evaluate your latest business information, and will notify you in the future if you qualify for funds. Call customer support if you have questions about your application.

For questions regarding your application, loan amount or payback, you can call the help center or email support.

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

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