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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I am a small business owner with an Etsy shop. I applied for Kabbage, was approved and took out a $500 cash advance. I was fully aware of my payment schedule and fees and it helped me get the supplies I needed to grow a little more. This is where I have the problem though. I paid off my Advance EARLY and then was immediatly told "You are not currently eligible to take a Kabbage advance". It has been months and I still can't get another advance even though I established a good credit history with them by paying off early and my sales have been steady. I called and spoke to a representative and they could not give me any answers as to why my account was shut down. I really thought this was a good way for me to grow my business little by little, guess I was wrong. =(
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