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What we like:
No minimum credit score requirement
|Estimated APR||7.00% – 69.00%|
|Loan Amounts||$2,000 – $250,000|
|Term Lengths||6 – 12 months|
|Origination Fee||1.5% – 10%|
Running a small business can be difficult at times. You might need extra funds for certain times of the year or have an established business that is currently doing poorly in sales. What you’re looking for is a small business loan or business line of credit.
Although you may not know where to turn, there is a solution that will give you the help you need. Kabbage makes the funding process easy by allowing you to receive up to $150,000. Best of all, you can get a decision within minutes.
Looking for a Business Loan?
Gone are the times where you go to the bank, fill out a lengthy application, and wait for days or even weeks to hear back. Kabbage offers a more personable and quick process and that is why they are one of the best small business loan lenders. First, you apply from anywhere, even on their secure mobile app. After submitting your information, you will receive a prompt decision. Next, your business performance will be evaluated to determine the amount of working capital that you will be able to access. Once everything is settled, you can begin using funds from a Kabbage business loan immediately.
Business Loans Convenience
Keep in mind that these are business loans, not personal loans. Kabbage makes applying for business loans a breeze. Because you have the ability to apply in a matter of minutes, you can spend more time on your business instead of paperwork. Your business performance is taken into consideration instead of just your credit score. Although there are minimum qualifications that you must meet, they are not strenuous.
To qualify, Kabbage states that you must be in business for a minimum of one year. You also need to have at least $50,000 of annual revenue, or $4,200 per month for the past three months. You can apply at no charge and even if approved, you are under no obligation to accept the funds. After being approved, all you need to do is withdraw the amount you need using your smartphone or computer. Additionally, you can take advantage of the Kabbage Card for accessing your line of credit whenever needed.
When making payments on your line of credit, Kabbage offers a simple and straightforward monthly payment with no hidden fees or prepayment penalties. The only time there is a fee is if you have an outstanding loan balance. Auto-pay simplifies things even further so you never miss a payment, with the amount coming out of your bank account at the same time each month.
Kabbage also allows borrowers making payments on multiple Kabbage loans to simplify the payment process. Borrowers can make on payment that covers all loans involved in a multi-loan situation. The only thing that is left is to get a business credit card and start growing your business.
What Makes Kabbage Different
Kabbage offers flexible lines of credit with no obligation. Lines up to $150,000 are available to ensure the security of your working capital, and at your disposal when you are ready for it. By tracking your line of credit on the easy-to-use online dashboard, you can see how much you have left.
With a secure and trusted small business loan, Kabbage offers advanced security that is backed by the highest encryption standards. For even more security, Kabbage is TRUSTe certified to ensure commitment of privacy for consumers. Kabbage has gained the trust of more than 100,000 businesses helping them secure a line of credit and access the capital they need to be successful.
An A+ rating with the Better Business Bureau shows Kabbage’s dedication and premium customer service offered to each of their customers. Still going strong, Kabbage has given over $3.5 billion in small business loans.
Culture and Vision
There is no doubt that Kabbage is dedicated to every one of the small businesses they work with. Providing flexible and straightforward access to capital, Kabbage provides business owners with the funding they need.
Because culture is critical to Kabbage, they take pride in their products and culture. With dedication and critical values, Kabbage has an established and open environment that shares collaboration and ideas. Staff at this company truly care about each other, as well as the service they provide to customers. With ambition and innovation, they all share the same goals of providing exceptional services to businesses in need.
If you are struggling with your business, you have the opportunity to come up with a new plan while receiving a line of credit to get back on your feet. The bottom line is that Kabbage is there for businesses in times of need.4.19 Kabbage Small Business Financing
Author: Jeff Gitlen