KabbageReviews 307

You people leaving reviews complaining about the fees and payment schedule, it's almost comical. You know exactly what you are going to be paying and the fees every month before you take the loan. Why in the world would you take that loan and then complain about it when you can't pay it back? Seems like your business model is the problem and not kabbage. Either that or your used to just defaulting on loans, and with kabbage they make it very difficult for you to do that. If you run a successful business kabbage can be a godsend to purchase inventory that otherwise might not be available. Money is in bank account in a day or two and payment schedule is clear as day. Best thing is if you pay off early you save on future fees. Great company but not for deadbeats or people who don't understand strict payment schedules.

I have been using Kabbage for 2 years, and I'm thankful for access to their funding for obtaining inventory. I sell on Amazon and have to purchase inventory to transfer to their warehouse. Kabbage has been a great asset for growing my business. As the revenue builds in the Amazon store, the payment is only released bi-weekly, so Kabbage is quite beneficial during those in between times to replenish hot selling items. The customer service is great, I have especially been helped by the assistance of a particular supervisor, Carolyn, who is amazing! Kabbage offers a short term loan with fees, but well worth it for suiting my needs. I would highly recommend them to prosper your ecommerce business.

Never again. Never will I recommend this company to anyone. They somehow took two very large payments out of our business account and a week later still have not returned it. Now our business account is negative and no refund of our over payment 7 days later. The staff is not helpful and very rude with their own mistake. I have asked for a transaction receipt to prove that they put the monies back in our account and they say that don't have one! Very scary for a small business owner. They have caused very serious issues now with our business and this loan should have helped. BEWARE to ALL!

Read all other reviews and slightly put off initially. However after more research and speaking with the representatives on the phone, this is a short term loan to bridge a financial gap that you know you can pay back quickly.

I only consider using this service with the intention of paying back within 30 days. Took out 5k and paid it back within a week with minimal fees was extremely helpful for my business to keep everything flowing.
Taking a large sum and then paying back over 6 months is asking for trouble and all the negative reviews seem to be because of this. If a longer term loan is what you need to do for your business then go get a conventional loan and DO NOT use this service.

In summary, if you need a short term loan whilst a payment clears and you can pay back very quickly, this is a great service.

Extremely high interest rate and will go after any sort of funding options you give them, paypal, bank accounts etc. They say the more funding options you provide, the higher you can qualify for NOT, they just want more options to get their money back ASAP. On 5000. 00 I was charged 1250. 00. Outrageous! If you want an easy funding source and have paypal, try Paypal Working Capital. Love it! Get funding up to 11,000 each time and even though I end up paying back over 2,000 a month, it comes out of each transaction that is processed so I do not have to worry about making a payment. If I have a bad month, it is ok, it can go out numerous months. On 11,000 loan, my interest or loan fee was 1200. 00. Kabbage actually put me in a bad spot and I was grateful when it was finally paid off. Do Not Do It!

If I could've given Zero stars I would've. We were thinking about expanding our company in the fall and thought it would be a good idea to set up some additional funding in case we needed it. We had been bombarded with both internet and regular mail advertisements from them and figured that we would give them a try. I filled out the application and waited for a reply. The automated system said that I needed to connect more services in order for them to get a better picture of my company's revenue statements. Being a company that never purchases anything on credit, we only have one revenue stream and it goes through our business checking account. I called and spoke with * and was told to give it a few days for the underwriters to look at our application and call back for an update, I called back a couple of days later and spoke with * and he told me that I didn't qualify and that my application would never be seen by an underwriter because I didn't meet their standards. According to the application, I had to have a 500+ credit score(I Do), been in business over a year(I Have... almost 4 years), and have a minimum monthly revenue stream of $4,200(which I have triple that amount), but apparently there are hundreds of qualification points that they look at in order to determine your approval that they don't tell you about. Unfortunately, they rely on a computer program to look at all these factors and never let a human see anything until an approval happens. As far as those "hundreds of points of qualification", why didn't they ask them in their application or include them in their advertisements. Seems like false advertising and data gathering to me. I didn't have to have the funding, so in a way I should be thankful. I think the main reason I am angry is that they wasted my time and weren't completely honest about their approval process from the start. In a world where your company reputation can make you or break you, why take the chance with speculative business practices. Be upfront and honest, state your requirements clearly, and have more human involvement in your decision making process. I have asked that my file be closed and my information not be shared with anyone. * assured me that it was closed and safe... it had better be!

*Personal information redacted by admin

This company is disrespectful, dishonest, and unethical. PLEASE, I'M TELLING YOU IF YOU VALUE YOUR BUSINESS, DO NOT USE THEM! They did not honor their agreements. Their loans will send your company into a tailspin instead of helping it. Outrageously high rates with huge payments. After consulting with them, they made an agreement to change my monthly payment, then without contacting me, cancelled it and proceeded to draw random payments from my bank account without informing me. When I contacted them about it, they were unable to give me a straight answer and when I demanded a straightforward explanation, they threatened to turn me over to a lawyer. STAY AWAY AT ALL COSTS!

It seemed that I met their basic requirements of annual revenue, credit score, and time of business but it took nearly a month for them to provide me with a very vague rejection. During that time, I kept calling and was told over and over again that they would call back that day or the next, and they never did. Or they would ask for something that I wasn't sure would be helpful, but I would qualify that, send what they needed, and then ended up waiting even more. I realize they are advertising a holistic review and would likely want to be thorough, but then that warrants better response times and an actual response to why something is rejected. In other words, it should not take a month to provide that type of answer especially when, in that time, I could have gone elsewhere or improved whatever it was they needed me to improve.

Used the kabbage funding and over sell upfront on how great the sales pitch was on interest rate, well i jumped in, 2/3 of the year we made all the payments on time then had a moment we slightly slipped behind, this program is designed for us to fail, the extra fee for every payment made late is part of the business model for them to make money off these kinds of loans, no doubt. Think about then they decreased the payback time now to six months and before you hardly get a chance to put it to work for you the huge number is on you the first 90 days. Paypal credit makes much more sense, used 2 loans from them so far(perfect), and its not highway robbery like kabbage. Its a preditory advance(loan)and will cost you dearly if you slip up, shame on kabbage for the huge fees, nice business model for them, they are bottom feeders praying on loan failure with no regulations because of the word "advance" no loan. Stay away from them. No at all recommended

I just intended to use Kabbage as a backup when I had cash flow issues in my business and signed up. I was approved and then was regularly hounded by rude employees, mostly it appeared to be from the middle east, on the phone and by email demanding to know if I ever intended to use it. I explained repeatedly that I would use it if needed. Finally I sent an email about how rude they were and they evidently dropped my approved line of credit as I received an invitation to apply for a loan again. Probably a good thing I never used them.

I've taken out two loans using Kabbage because I needed to fund my inventory requirements quickly. The process to obtaining loans from them is easy, but the terms are are too predatory for me to come back. The high interest rate with fees that I paid were 28% for 6 months for both loans. Annualized that's 56% interest rate. They connect to your bank, paypal and ebay to ensure they'll collect. I don't have a problem paying that monthly commitment as I contractually agreed to do, however, I have excellent business records and have always paid bills on time. For them to charge such high fees, to me, is considered a scam. Then after the loans are paid in full, they no longer allow me to borrow again. That's fine, I will never do so. To Kabbage and your interest rate algorithm - hope it blows up in your face.

Unless you've truly exhausted all lending options, do not do business with this company. Their rates are absolutely insane, even if your credit score is phenomena(which ours was) the rates are astronomical. They dangle no pre-payment penalties in front of prospective business customers, but the devil s in the details. Their loans are all loaded up front with huge fees and those fees only drop significantly towards the end of the loan term. Should you choose to make a significant payment on your loan (like we did after one month), they use those monies to pay off the months at the end of your term FIRST and work backwards. The backend payments have fees that are significantly less. In our case, the fees for the first six months are 790.00 per month, but beginning month 7, they drop to 186.00 per month.