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Kabbage

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Kabbage

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in Business Loans from Kabbage

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Highlights
Highlights
Community Rating Mostly recommended
Loan Amount $2,000 - $250,000
APR  (Fixed APR) 16% - 67.5%
Loan Term (Months) 6 - 18 months
Number of Reviews 6

Kabbage Review

Kabbage is a business financing offering by Kabbage, based in Atlanta, GA. Founded in 2008, Kabbage offers access to business loans in 50 states (and Washington, DC).

Kabbage FAQ

What are Kabbage’s rates?

Kabbage offers a fixed APR business financing product that ranges from 16% APR up to 67.5% APR.

Does Kabbage charge an origination fee?

No, Kabbage does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does Kabbage set on the purpose of the loan?

Kabbage considers loan applications for business purposes, such as:

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

What types of business loans does Kabbage offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Kabbage provides access to the following business loan types:

  • Lines of Credit

Does Kabbage charge prepayment fees?

No, Kabbage does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Kabbage?

Loan amounts start at $2,000 and go up to $250,000.

What is the maximum loan term you can get with Kabbage?

Kabbage offers business loans with terms ranging from 6 to 18 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for Kabbage?

Kabbage requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $50,000 to be considered.

When it comes to credit scores, Kabbage doesn't have a set minimum or maximum. People with all types of credit can apply.

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 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. Permanent resident / green card holders are also eligible to apply.

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

  • Proof of income
  • Proof of identity

Does Kabbage report your account activity to credit bureaus?

Kabbage 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 can help improve your credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

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About 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

No Origination Fee  
No Prepayment Fee  
Credit Score Range 300 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $50,000
Verification Documents Required
  • Proof of Identity
  • Proof of Income
Approval Speed 1 hour
Credit Bureau Reporting
  • Equifax
  • Experian
Funding Time Range Up to 1 day
Loan Amount $2,000 - $250,000
APR (Fixed APR) 16% - 67.5%
Loan Term 6 - 18 months

Kabbage Community Reviews

 

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