KabbageReviews 307

Working with Kyle Amos, I was able to secure a loan at a descent rate. Understanding the process, the fees, and repayment structure is paramount if you are taking a loan. For those who had a horrible experience, you should understand that a loan is not without the stress of repayment, nor a substitute for sales and good management practices. I have over $30K a month in payroll, and this loan helped me access the "rollover" money that has been now put to use growing additional sales, while stabilizing my balances to keep payroll secure for my staff.

This is a good, albeit fairly more expensive, method to raise your businesses credit ratings for those looking toward more traditional lines of credit, be it a bank or SBA loan.

Thomas Lynch has been nothing but helpful and courteous in dealing with a situation with a client who is refusing to pay us for two very expensive projects. While we work on a resolution, we have used Kabbage to fill the void left by this customer. And while I appreciate Thomas' high degree of professionalism, the Kabbage loan terms are themselves extremely steep. I recommend them as a stopgap for situations like ours where you can pass along the expense, but they are a costly choice to fund business growth. I am giving them four stars for Thomas Lynch, and knocking off one star because they position themselves as a company that helps small businesses grow, and objectively their terms do not support that.

First I'd like to start my review with this, Kabbage as a lending company is a simple easy to use system that lends at a modest rate and delivers cash into your account fast. This is where my negative experience begins. After being referred to Kabbage by a customer and close friend of mine and acknowledging the referral program incentive as an enticing offer, I went ahead and took the initiative to fill out all the proper paper work and enrolling my friend (email and all necessary information) so that we would both get a $200 visa gift card and a $50 visa gift card respectively. After making my first few payments, it came to my attention that my friend still had not received their gift card. I contacted kabbage and their management team via email and phone. My contact person, Mark Jones, seemed to do what he could but after going through the waiting game, they manifested an excuse "that it will be put through on the next payment batch. Sometimes it happens until your first payment has been processed." We waited for another 2-3 months before I contacted Kabbage again about the gift card situation, and again they manifested a lackluster reply, not ever apologizing for such - just pushing it off on another departments fault. My account manager Mark, supposedly push it through to his supervisors and sent a couple other $50 Visa Cards for my troubles and another for a separate Loan I pulled. To this day I've been a member of Kabbage for 9 months, borrowing close to $30,000 and have not received a SINGLE dollar of incentived money. This being the holiday season, now would have been the perfect time to pull out my gift cards and give my kids a slightly better Christmas, than they would have otherwise. Take this review for what it is, I'm an honest hard working DAD who demands more out of these Corporations that suck the bloodlife out of its own customers. Disgusting

I have been using Kabbage since 2012 without a hitch! Smooth sailing and was happy to recommend them to friends and business associates. Until TODAY! As of 10 days ago I had a balance owing of under $200.00. I noticed when I logged into my account that they had raised my "AVAILABLE CASH" amount. However, when I went to retrieve it, I received their "ERROR' message. I sent them an email and waited. 4 days later, still nothing, I called them. They said I would need to pay off my balance in order to receive any cash. I got busy and paid it off. WRONG! When I logged in and went to "GET CASH", I received the same error message. I called them immediately and was told that my account would have to be sent to the review board. I am beyond annoyed that I naively trusted them. My recommendation: STAY AWAY! THEY ARE NO LONGER A TRUSTWORTHY SOURCE FOR FUNDING SMALL BUSINESSES! And WORSE, will lie to their customers deliberately just to get their money back!

I was happy I thought I got a good deal. They dropped my rate from 9+% per month to 4.5% for 1st 6 months and 1% each month for the next 6 months. They extended my loan from 6 months to 12 months. However, your loan payment including paying back the capital each month. I needed the whole capital to work for me for one year. I calculated with fees and interest, i would lost at least $3K at the end after my investment.

Make sure you are aware that you are paying back a portion of principal each month in addition to their high interest and fees.

Stay away from them. Very unyielding customer service. You will NOT get any break whatsoever on any fees, costs, etc.

THIS COMPANY IS A JOKE. PAYMENT TERMS AND CONSTANT LOAN FEES WILL KILL YOU. IT MAY SEEM LIKE A QUICK FIX, BUT TRUST ME (I AM STILL STUCK IN THEIR LOAN HELL) THEY WILL SUCK YOU DRY. BORROW ONCE, PAY IT OFF, DON'T BORROW ANY MORE... IT IS A TRAP... YOUR PAYMENTS GROW SO LARGE AND OUT OF CONTROL THAT YOU CANNOT EVER GET OUT. YOU HAVE TO BORROW TO PAY YOUR LOAN! I HAD ONE ISSUE MAKING A PAYMENT ON TIME AND MADE ARRANGEMENTS TO GET IT PAID WITHIN JUST A FEW DAYS AND NOW I AM BEING PUNISHED AND NOT ALLOWED TO BORROW EVEN THOUGH I AM CURRENT AND A SOLID PAYING CLIENT SINCE DECEMBER 2014. IT IS ALL JUST A BUNCH OF BS. STAY AWAY IS ALL I CAN SAY!

When I tried to call their so-called customer support, they barked on me as dogs. They are full of hate to young business ladies. I think they unable to speak normally, or they hate people who were born in foreign country. They didn't listen what I tried to say. All I heard was only "You have to pay then call back." I had no chance to solve problem that they caused. They made big problem with my bank account. They grabbed money from both my bank account and paypal account, took my money behind my back, and that was not a due day at all. I lost a lot of money to cover $1000 overdraft they made on my account. I had heart attack, huge stress and was unable to work for a few days when tried to solve problem they caused. Nobody wished to help me. I feel that they enjoyed by making me nervious, they were happy to hear that they caused problem to me. When I tried to tell them that it is not due day yet and they have to give my money back, they disconnected phone. When I called again, asked to give refund of what they took without permission, they disconnected phone again. Very rude, especially male worker from "customer relationship team" (or how ever they call that dept) They took all money that my buyers paid to me, took everything I had on bank account, caused me $1000 overdraft. They are angry moneymakers that hates young business women - this is my experience. I would like to tell everyone to never use this service.

A major RED FLAG when this company wanted to log into my merchant and website accounts. ILLEGAL process and should probably be turned over the Federal Trade Commission or the State Attorney General for misleading business practices. Who the HELL would give a company or people you don't even know via online access to your accounts. Ie, account numbers, log in passwords, etc. They should be reported! Sorry for the individuals gullible/naive enough to allow them this information.

Indeed I am another victim of this company, and believe me I have lost plenty of sleep over the nightmare I have gone through with them. When all is well, they are okay and you accept their fees as the cost of growing your business. But heaven forbid sales drop down, you become ill or any other legitimate reason you can't make a full payment. The frustrating part is that if you call them, work with them, make a partial payment and are granted an extension for the balance - they don't live up to their end of the negotiation. Before you know it...

This is what they do to collect the payment. They will submit an eCheck against your bank, pulls funds from your payment provider (such as PayPal) even if doing so pressed your account significantly overdrawn. Then they track your sales and clear your account every hour. Can't pay utilities, mortgage, car payment? Too bad. Had to slow down do to illness? They come before your meds do - and I am serious when I say this.

I was forced to remove them from my PayPal account and change bank accounts. A bank will work with you, extend the loaned money and just add interest, Kabbage won't. They just bleed you dry. Now unlike Kabbage, I am am honest person. I have every intent on paying them back, and honestly my balance isn't extremely high. But sales have to return back and in the mean time I still have to keep a roof over my head... Kabbage doesn't care if you loose everything over a few thousand dollars. You could be forced to live in a van down by the river, and they would do what they could to take the van.

I read about 20 Reviews on here, Yes, Some People do qualify for the 2% Fee. (this is 2% Per Month) Read the Fine Print Our Business has been Operating for 6 Years, Our Credit Line is approx 22K. Are the Fees Still High? Yes, They are, But We also have a Bank Line of Credit and When you Are Going for A Business Line, The Interest Rate is Never Great because there is a Fair Amount of Risk involved for the Lender.
Now, I have never Defaulted on my Kabbage Account, But I read alot of reviews from people who have and they say Kabbage is Ruthless. Heres the Facts, You took the Money, You agreed to the Terms, If you did not read that part, Its on you. Kabbage is all Automated so No they dont care if you have a Bad Month, And You need to plan ahead, Being in Business is more than selling stuff, and if you are borrowing, you must have a plan in place to pay it back. If you are purchasing your product correctly, Repayment should not be a problem, Dont Bite off more than you can chew and Don't Default. I use them a couple times a year. I Would recommend this company to a well organized business who has a good understanding of their returns on an investment. There are companies Popping up like this all over now, Paypal is great, but You can only take one at a time. Im very Happy with Kabbage its a great Backup.

If this is even legal they are just bending the law, using things like fee instead of interest rate... Complete scam... Trust me they will be investigated soon... In any loan if you pay off part of the loan you should only be charged interest or fee on the amount you owe... Not with them. If you borrow $1000 and repay $900 in a 5 days, they charge you full interest/fee on the full $1000... NEVER HEARD OF THIS... Don't Do It... This is a bad loan... You have to be very desperate. It was my fault I didn't read the entire agreement but the rep said you only get charged for your outstanding balance...

Been in business over 50 years, tons of corporate and business experience, never have dealt with a more underhanded, trivial, inexperienced, spiteful company in our experience. Do not use this service and tell all of your affiliates the same. If there was a rating lower than a 1 that what we would have picked. It has nothing to do with paying back as the other bad reviews have, we never even got past the application process as the reps were very inexperienced and it is obvious they're not customer oriented. It really was just such a joke, and a bad experience, and we keep our vendors and affiliates for decades usually. Highly advise NOT doing business with them. They're not someone you'd want handling any kind of finances for your company.

I signed up for a Kabbage account about 2 years ago, and have used it sparingly for inventory purchases on average of $4,500 per advance. I know very well exactly what the fees are, and the repayment schedule. I read through these reviews and see many unhappy folks, however the common problem is people that could not make the 6 monthly payments on time. Folks, if your business model is so lean, that one payment sends your checking account into overdraft, then you do not need credit... you need a job. The money is fairly expensive from Kabbage, but we can all read the agreement terms. If you cannot pay on time without question, then don't take the advance.

Kabbage is not a bank. Therefore it is not required to follow banking regulations, nor the consumer protections those regulations provide. They offer a "contract" for a cash "advance" and charge extremely high fees amounting to 30-40% of the principal, all payable within the very short time frame of 6 months. A Kabbage "loan" will destroy your business with dizzying rapidity if you are not careful. Do not take the bait. It is poison for your business.