I checked out Kabbage mainly because I saw an ad on Facebook, and figured I would give it a shot to see if I could get approved. Within a week or so, I had an avaiable balance of $2500. I only took $800, and have paid back more than half of the loan already. Since then, they have took away the option to withdraw anymore funds, for reasons I am not sure about. My businesses income has stayed the same or increased, so not sure why they would do that. However, I am exceeding my monthly payments, and hope that this improves my businesses credit score so that I can possibly apply for a more traditional loan in the future if ever needed. My main reason for using Kabbage was to try and establish some type of business credit history, and I am still not sure if Kabbage reports to the credit bureus, however I figured it was worth the shot. Overall my experience has been good, however the short term of the loan and high fees are not ideal, it is an easy way to get quck cash for your business that you would probably not get otherwise. If you read everything up front and understand the process, I don't see how you can complain about their service. There are no hidden fees or costs, it is pretty straight forward. I am not sure that I would use them again, unless truly needed for inventory or equipment costs, but I wanted to give them a try and so far so good. I am curious to see if they will increase my limit, once I pay my loan amount in full.
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Most Helpful Negative Review
They want over 50% of the loan back in the first 2 month's. VERY heavily front loaded. The money you borrow doesnt even have time to work before you have to pay it back.
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