KabbageReviews 307

We paid them a premium for a revoling line of credit- we are health care on the fornt lines of COVID, have bene great customers and never missed a payment.

Today, they CANCELLED OUR REVOLING LINE, citing the need to "diligently help small business".

DO NOT USE KABBAGE> There are so many better, honest choices.

We received an email from kabbage that our new line was placed in hold only weeks after they approved it. The sent this message yesterday. We have a substantial operation and purchase millions in supplies. We have no financial challenges whatsoever. We were using them for pay later on alibaba which would seem faster than wiring money all the time.

I dont recommend kabbage.
Their process is misleading.
They want to connect to your bank accounts- fortunately we only connected them to a minor credit union account for payments.
After reading reviews I wish we had done our homework first.

Their coronavirus policy is hurting people. We will not be completing the "bank accounts" verification process now and have dumped them.

Great job Kabbage - Hospitals and OEMS will not be able to purchase systems to save lives. We had orders in place to purchase portable X-rays and C Arms for hospitals and OEMS in need due to supply chain issues.

Now I have to break the news to all the major OEMS and Hospitals that Kabbage blindsided us with ZERO explanation.

Not good business for a company that relies on us to support your operation. Have the decency to reach out to your vendors and qualify who truly has the capacity to use the lines responsibly.

Be very careful with Kabbage, not only do they charge a extremely high fees on your loans they have Stolen/Misplaced over four thousand dollars from my small business.

Let me start by saying as a small business we were new to Kabbage and believed that they would be a good fit since we paid each loan back either before the initial charge date or on the auto payment date, as to not incur anymore charges. Well this was going well until my most recent payment which was via PayPal payment(which most if not all my payments were made through PayPal). The payment went through as successful and was taken out of my PayPal account, about two weeks later I went to check my company's Kabbage account to find Kabbage stating that I still owe the same payment that I made two weeks earlier $4031 I stopped and immediately called them in disbelief. To my surprise they stated the payment was reversed back to PayPal (with no notification to me not even an email). Immediately I checked PayPal no refund there. I asked Kabbage once more where's my 4 thousand dollars I get the run around, first it's let me ask a supervisor, then it's let me ask the accounting team, then it's call PayPal and ask them. Ok I call PayPal, PayPal confirms my suspicions no refund was given,( Kabbage didn't even reverse the payment with the same transaction code). I call Kabbage back to let them know of the issue, once again the run around, supervisor to Accounting team which points the finger back to PayPal. Then the final straw was when I spoke to this last representative J****{he will remain nameless, not trying to fire him} and his supervisor who tried to tell me that Kabbage doesn't accept PayPal payments well how do you explain my 5 payments just in that month alone that were accepted( I even emailed him proof), his response "Oh those 5 separate PayPal payments were just glitches. This is very scary I feel as though Kabbage is trying to force a small business to do something not even banks do. Never again will I trust Kabbage.

Beware of Kabbage.
PS I'm still waiting on you all to find my 4 thousand dollars, until then I'm not paying you thieves a single dollar more

I can't believe there are this many positive reviews for Kabbage. Since I linked here from their site, I guess I cant be suprised. They come off as new, fresh, professional. They advertise all over the place. Their customer service is nice and apologetic but it's a shady outfit. Go elsewhere! I found some serious flaws in their operations. They even admitted to the flaws and instead of correcting their mistakes, they offed me a gift card. When I needed them most during the Covid-19 pandemic, they froze my account along with the majority of consumers. Way to go! House of cards. Don't do it.

This started out great for me and my photography business as I had paid 4 of y payments insigned in one day to find out that my account had been suspendex and that it would be reviewed in 60 day. I could not get an explanation as to why it was suspened. This gets me at a bad time as inwas about to expand my business into a franchise with a company and had hoped tomuse the line of credit. I just feel like imshould be able to get a concrete answer as to why my account was suspended.

CROOKED NOT HONORABLE COMPANY! STAY AWAY FROM THEM!. LIES, LIES AND LIES. I've contacted company in march of 2019, and told them that if they are going to do hard credit pull before offering me terms I am not interested. The case was closed. 6 month later Hard credit inquiry appeared on my credit, without my consent or knowledge. After contacting them, I was told pretty much that they reserve the rights to pull my credit anytime, and without my consent. I am making complaint to FTC. Stay away from them if you want to avoid headaches and hurt your credit. They are not even a legit lender, and their program sucks!. WORST OF THE WORST! Dishonorable dealings!

We got 15k and in 20 days we had to do a 4k payment. We call to find out why instead of 20 days, it cant be a month. They said cuz of the billing cycle and the guy didnt explain that to us before we took the money...
Then Call to paid a good amount more then what we suppose too and they said that it will go to the end of the loan and we still have to paid the 4k the following month...
There no point of getting a loan for if you had to paid 8k in 50 days. Couldn't even invest it and start making profit. Just paid it as we go and dont use the money at all. Wa as useless..

What a nightmare Kabbage was! We planned to use them for a loan to purchase material on Alibaba using a Kabbage offering called Pay Late. We buy tens of thousands of products from overseas for our business. We asked Kabbage if we could pay off the loan using an American Express Corporate card from our business. We were told by several people this was 100% okay, there are no transaction fees or other fees. Only that we'd have to pay the 1st month interest. Sure, no problem. We verified this 3 times,... twice with Detric and once with Matthew. It was a nightmare to attach bank accounts, didn't work well, had to be sent to tech support. YES, shockingly, they want you to directly link your corporate bank accounts to their system so they can access your banking information. SCARY! We were very hesitant, but decided to give them a try. Their system didn't work because it didn't like that our checking account was a money market checking, they wanted a regular business checking account. Really? It's simply a checking account that pays interest. So we had to transfer money around to appease them. It was a mess! We got all setup 2-3 days later, literally took that long for them to get it together. Then we started to make our purchase and decided it would be smart to give them one last call to be sure everything was correct, since it had been a nightmare to that point. And we were told, no way, we absolutely won't accept an AmEx or any credit card to payoff the loan! Ugh, what a HUGE WASTE OF TIME AND MAJOR FRUSTRATION! This was the whole point and we had been totally honest and up front about our intentions. We closed the account, unlinked our bank accounts and changed all our passwords.

NIGHTMARE - BEWARE!

CAUTION. They can and will suspend your credit line if they detect a fluctuation in deposits. In our case, we transitioned several clients from "due upon receipt" to "NET30/60" and found ourselves with a suspended line of credit.

This, even after having paid back near 100% of our initial loan. In the meantime, this catastrophe has brought a cascade of issues to our doorstep, as we had committed to contracts based on the availability of said credit line.

Jeff
CEO, FLUID

I got an email from Kabbage that they offered business lines of credit. (note: my business is functional, profitable and healthy for 20 years. I just thought maybe a line of credit for unexpected expenses might be good. I've never had or needed one, but you never know, right?) I applied. BEWARE, they approved an amount. The repayment amount for a 6 month use of cash was 18%. I can use credit cards if that is what I needed. When I emailed that I wanted the account closed they INSISTED I needed to call because it was the only secure way to verify my identity. They refused to let me send a written request with the pertinent information to cancel so that I could have a written record. In any case the business practices of this organization suggest a company of the sort that loans to those struggling most who likely will struggle to repay. Stick with reputable banks for your lines of credit. I fell for a phishing email from a shady company. My mistake. Thank GOD I didn't need the money or even try to use it!