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Kabbage - Small Business Loans

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Most Helpful Positive Review

Apr 15, 2013
It seems too good to be true!
Anonymous Borrower

I sell antiques online. Saw an ad on eBay that said I was pre qualified for money, so I applied, and within 2 minutes I got a response that I had $2000 with an opportunity to get up to $10000. I took out $1000 to buy inventory, and was able to pay it back in 2 months. It really saved me to be able to take advantage of an inventory opportunity that I would not have been able to other wise. Yes it is more expensive than some other ways to get money, but where else can you get money that fast, delivered to your paypal account, with out using just a credit score? I will keep using this for sure! Seems like banks don't care about businesses that are doing new things so it is cool that Kabbage is doing this for us.

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Most Helpful Negative Review

Jun 13, 2013
Sorta Interested

It seems to me that they are not fully up front in explaining the full cost of capital in the loan structure, by emphasizing the 2-7% top line cost.

" Your cost will be typically 2%-10% based on your store's monthly revenue and Kabbage score."

You would pay 2% If and only If you pay back the entire balance in the same billing cycle, and if you are lucky ennough to get the 2% rate.

The on site example of Ms. Thompson getting a $10k loan, the first two months clipped for only 3%, followed by 4 months of 1%.

Since this is a fee on the total loan, finding the equivalent APR is rather easy: 3+3+1+1+1+1=10, but since this is a six month loan the APR would be 20%. We can see this in the listed cost of loan in the Ms. Thompson example

  • Advance: $10,000
  • Cost: $1,000

  • Total Due: $11,000

1000 on 10,000 is 10% for six months, or 20% annually.

Caveat Emptor, I am not saying this is a bad thing; like stated above, if you can manage it well this is a good source of short term funding, and let people like Ms. Thompson pay Kabbage's bills.

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Reviews (157)

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Aug 17, 2016
Anonymous Borrower

Don't do it rates to high and they take high monthly payments even if your business is slow they wipe out your bank accounts 

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Aug 16, 2016

They will give almost anyone a loan but the fees for a $10,000.00 loan are $7000.00 in addition to the loan! Once they allow you the initial loan they will never allow another unless you have EXCELLENT PERSONAL credit, which they claim has no bearing on your approval. The lure you in with the first loan and you will think its a great deal but it is not! My business doubled and they refused a second loan, after my first one was repaid without a single late payment! Do not waste your money with Kabbage! I'm happy to show anyone the emails with the exact reason for my account being frozen as my personal credit rather than based on my business revenue, which doubled! You know how much the fees will be but you think it will be there if you ever need it, think again. One loan and you will be done without a great credit score of your own. If we all had great credit, we would go to a regular bank for a loan rather than a company like this in the first place. Total waste of time and money. 

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Aug 05, 2016
Expensive, but worth it if you need it.
Anonymous Borrower

Fees are much higher than any traditional loan if you don't intend on early repayment. Customer service is mediocre at best - unresponsive or slow to respond to e-mail requests. Maintained a positive loan history over the course of four loans with them, and they consistently refused to work with me in regard to their fee structure.

That being said, they were the only people who were willing to offer me any sort of credit line with my short business history, and the loans that I took were extremely helpful in growing my business. Now that I have more history, I was able to get alternate lending that is less expensive - I just wish I could have negotiated lower fees with Kabbage to continue using them.

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Jun 29, 2016
Horrible APR. Nightmarish Mistake.
Anonymous Borrower

Horrible APR and customer service. Reps are rude and belittle you when you try to work out payments. When you fall behind, company is merciless and attacks your personal accounts causing them to overdraft which causes further financial issues. I highk recommend Mariner Finance. 

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Jun 22, 2016

I applied they came back with 12500 approval monthly payment was $780 if I took out 5000 that's almost 8 K if you don't pay it off until 12 month Mariner finance just approved me for 5000 for $150 a month try them you'll be much happier

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Jun 22, 2016

This company is not real they approved me on a Friday and I sent them additional money to show I had collateral they now decline me don't waste your time

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Jun 14, 2016
Anonymous Borrower

Very poor communication. Some of my reps have actually been judgemental. Frequent errors. Representatives are very rude. Pulled money before agreed date, over drafted my account. I can't wait until this is over.

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Jun 13, 2016
bad apr and customer service to boot.
Anonymous Borrower

I've been a kabbage member a few years now. I've taken out 3 loans, always paid up my loans. I've been asking for a lower rate or a longer term with the same rate but they won't budge. I will be going a traditional route this next time... I've found someone that basis the funding on the amount of cash flow rather then the net profit.

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May 27, 2016

I live in UK London and i am a happy man today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness for me and my family, i was in need of a loan of $250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $250,000.00 U.S. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him. Thank you

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May 03, 2016
Terrible Customer Relations
TwoMen Borrower

I hae been a customer for some years. I have boorowed alot of money and paid back alot more! I have never ever been late and they continue to not lower my interest rate. Steer clear of these folks, they are in business to make as much money they can off you and hope that you fail. GO ANOTHER ROUTE! 

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.