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  Kabbage Small Business Lines of Credit

Kabbage Small Business Lines of Credit

in Business Lines of Credit from Kabbage

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Kabbage Small Business Lines of Credit

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in Business Lines of Credit from Kabbage

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Highlights
APR  (Fixed APR) N/A
Credit Score Range 560 - 850
Loan Amount $2,000 - $250,000

Kabbage Small Business Lines of Credit Review

Kabbage Small Business Lines of Credit is offered by Kabbage, a direct lender founded in 2008 and based in Atlanta, GA. Kabbage Small Business Lines of Credit is available in 50 states (and Washington, DC).

Kabbage Small Business Lines of Credit FAQ

What APRs does Kabbage Small Business Lines of Credit offer?

Kabbage Small Business Lines of Credit offers a fixed APR product, but they do not disclose their rates.

Does Kabbage Small Business Lines of Credit charge an origination fee?

No, Kabbage Small Business Lines of Credit does not charge an origination fee. An origination fee is what some lenders charge for processing, underwriting, and funding a business financing product. Typically fees range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does Kabbage Small Business Lines of Credit set on the purpose of the line of credit?

Kabbage Small Business Lines of Credit considers line of credit applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Lease Improvement
  • New Location
  • Product or Service Expansion
  • Working capital

Does Kabbage Small Business Lines of Credit charge a late fee?

Yes, Kabbage Small Business Lines of Credit charges borrowers with a late payment fee of up to $10. The late fee is triggered if you're 4 days late.

Does Kabbage Small Business Lines of Credit charge prepayment fees?

No, Kabbage Small Business Lines of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit balance off early.

How much can you borrow from Kabbage Small Business Lines of Credit?

Line of credit amounts start at $2,000 and go up to $250,000.

What is the maximum term you can get with Kabbage Small Business Lines of Credit?

Kabbage Small Business Lines of Credit offers business lines of credit with terms ranging from 6 to 18 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.

What do you need to qualify for Kabbage Small Business Lines of Credit?

Applicants with a credit score of at least 560 and up to 850 may be eligible for Kabbage Small Business Lines of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Kabbage Small Business Lines of Credit does not have or does not disclose a minimum annual income eligibility requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Kabbage Small Business Lines of Credit product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Kabbage Small Business Lines of Credit. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Business formation documents
  • Proof of identity

What are the business financing requirements for Kabbage Small Business Lines of Credit?

To apply for Kabbage Small Business Lines of Credit, the applicant needs to provide the following documentation:

  • Business license
  • Business bank account

Does Kabbage Small Business Lines of Credit report your account activity to credit bureaus?

Yes, Kabbage Small Business Lines of Credit reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

What types of business lines of credit does Kabbage offer?

Kabbage offers both secured and unsecured lines of credit. Secured lines of credit are typically secured by a blanket lien on your assets or a certificate of deposit.

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Message From Kabbage Small Business Lines of Credit

Funding that’s built for your business. We’ve made it simple and fast for you to apply for a line of credit1 between $1,000 and $150,000. Now with the powerful backing of American Express, Kabbage will offer a broader set of cash flow management tools to millions of businesses. Apply online in minutes and connect your business accounts, and we’ll look at your financial info in real time to give you a decision. Use what you need, when you need it, and only pay loan fees for the capital you use. For your security, Kabbage uses data encryption and “read-only access” to better understand your business.When you draw from your line of credit, you’ll pay a monthly fee on the amount you use, and only during the months you have an outstanding balance. There are no pre-payment penalties.

Contact

Hours of Operation

  • Sunday All Day
  • Monday All Day
  • Tuesday All Day
  • Wednesday All Day
  • Thursday All Day
  • Friday All Day
  • Saturday All Day

Other Services by Kabbage

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Annual Fee $0
Application Fee $0
NSF Fee $0
No Origination Fee
No Prepayment Fee
Draw Fee ($) $0
Late Fee Amount $10 - $100
Late Fee Grace Period 4 days
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 560 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Age 18
Minimum Months in Business 12
Minimum Revenue $50,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Social Security Number
Collateral Requirement
  • Secured
  • Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
  • Business Debt Refinance
Approval Speed 1 hour
Credit Bureau Reporting
  • Experian
  • Equifax
Funding Time Range Up to 1 day
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Credit/Debit Card
  • Bank Transfer
Loan Amount $2,000 - $250,000
Loan Term 6 - 18 months

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