Introduction
Kabbage is a small business loan provider that has been around since 2010. The company works with a variety of lenders and makes it easy for borrowers to apply for loans online. If you're looking for a line of credit, Kabbage might be right for you. Here's what we learned about this company in our review:
Overview
Kabbage is a business funding platform that provides loans and lines of credit for small businesses. It offers both a line of credit and a term loan, with the minimum credit score requirement being 640.
The Kabbage Small Business Loan Review will walk you through each step of the application process, discuss what to expect from your loan agreement and how to repay it in full, and explain how this service compares to other options available on the market (e-Loan vs Prosper), highlight some pros and cons before we get into more detail below!
Loan Amounts and Terms
Kabbage offers loans in three different categories, each with different minimum credit scores required. The first category is for businesses that have a low enough revenue and cash flow to qualify for a loan of up to $2,000. These loans offer 6-month terms and start at $500; however, you can increase your eligibility by applying for larger amounts of money or longer terms.
The second category consists of loans for businesses with average annual revenues between $100,000 and $500 million (or less than 50 employees). These loans come with 12-month terms and start at $1,000; again you can increase your eligibility by applying for larger amounts or longer terms as well.
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Kabbage Interest Rates and Fees
Kabbage offers several types of loans, so it's important to know that interest rates vary by loan amount and term. For example, a $10,000 line of credit with an APR of 15% would cost you $150 in monthly payments over 12 months; however, if you were to borrow $20,000 at the same rate you would pay an additional $250 per month on top of your principal balance (the amount borrowed).
Kabbage has different fees depending on whether or not they are applying hard pull credit reports when processing your application—this can affect how long it takes for them to approve or deny your loan request.
Kabbage Application Process and Requirements
Kabbage is a fast, easy and secure way to get a business loan. You can apply in less than 5 minutes, from your phone or desktop. You can also use existing financials for your business when applying for a loan.
If you have a credit card on file at Kabbage, then that’s all that's needed! No need to fill out any additional paperwork.
How to Qualify for a Loan With Kabbage
Kabbage Small Business Loans are available to anyone with a U.S. bank account, who is at least 18 years old and has a valid Social Security number.
The Bottom Line on Kabbage Loans
Kabbage is a good option if you are looking for a line of credit. It’s available to businesses of all sizes, and it has a good reputation.
If you are interested in Kabbage and would like to learn more about their loans, check out our full review here: https://www.kabbagecreditloansreviews.com/kabbage/
If you're looking for a line of credit, Kabbage might be a good option.
If you're looking for a line of credit, Kabbage might be a good option. The company offers small business loans at extremely competitive rates and with no minimum credit score required.
Kabbage also offers several features that make it easy to repay your loan in instalments over time—and they don't charge extra fees if you do so.
Conclusion
Kabbage is a good choice for small businesses and entrepreneurs looking to start or grow a business. They have an easy application process, low minimum credit scores required, and competitive interest rates. The only downside is that if you don't get approved right away, it could take some time before your account becomes active.