Kabbage
check_circle VerifiedKabbage is a lending program based in Atlanta, Georgia, that developed an online algorithm to simplify the application and approval process for small businesses. Unlike traditional lenders, they look at business performance online through business checking accounts, payment processing, and shipping data — not manual forms — to automatically assess qualification. Kabbage boasts a high success rate: Over 90 percent of all Kabbage transactions come from repeat users.
For borrowers looking for a small business loan from Kabbage, having a low credit score won't necessarily knock them out of the running. Kabbage looks primarily at current annual revenue (they want to see more than $50k per year or $4,200 per month for the past 3 months) and the amount of time in business (needs to exceed one year). Typical Kabbage borrowers also have a good social media presence and high amounts of inventory. Kabbage lines of credit are used to cover operating expenses while waiting on payments and receivables, cover operating expenses during slower seasons, and cover unexpected expenses. Those who choose Kabbage business loans should remember that funding is not available to startups.
You can find Kabbage reviews below to learn how customers feel about the lender.
The Good
- Short-Term Loans
- Transparent Application Requirements
- No Closing or Origination Fees
- Resources
- Kabbage Card
- Kabbage Desktop and Mobile App
- Repeat Users
Short-Term Loans
Loans from Kabbage are great for businesses that need capital on an ongoing basis. Loan amounts go up to $250,000. Kabbage also has a unique borrowing model that allows the borrowers to only use what they need. Even if a business is approved for up to $250,000, the borrower only pays for what they take.
Loans from Kabbage are set up on a short-term manageable payment platform. They offer eligible customers 6-, 12-, or 18-month loan terms.
Additional advantages of Kabbage Small Business Loans:
- Loans are scalable and manageable
- Quick approval and fast access to funds
- Simple monthly fee
Transparent Application Requirements
In comparison to other lenders, Kabbage provides a great deal of information online without having to apply first. Their website includes the following helpful information:
- Companies need to be in business for one year before applying
- Companies need to be making a minimum of $50k annually or $4,200 monthly for the past three months
- No pre-payment penalties on 6- and 12-month terms
- No closing fees
- No origination fees
- 1.5–10 percent interest rates
- Good resources
- No minimum credit score needed; Kabbage weighs your personal credit score as less significant than some other lenders
No Closing or Origination Fees
Unlike many business loans providers, Kabbage does not charge any closing or origination fees. This saves borrowers money and can provide them with peace of mind that there are no hidden fees.
Resources
Kabbage has a "Resources" tab on their website which connects to a blog. This site houses a good amount of content that businesses can access for free, including business news, webinars, eBooks, tips, and more. Under Kabbage's "How It Works" tab, there is a calculator that gives potential borrowers an estimation of their total payment based on the amount they plan to borrow and the length of the term. Typically, the longer the term of the loan, the higher the amount owed.
Kabbage Card
Kabbage has a new exclusive Kabbage card that customers can keep in their wallets and access their funds whenever and wherever they need them. Customers can apply for the Kabbage card on Kabbage's website through a brief form, and the card will be delivered to them in 7–10 business days. When they receive it, customers can activate the credit card online through their Kabbage account dashboard. The benefits of the Kabbage card include:
- Access to available funds at the point of sale
- Remote access to your Kabbage account
- Business purchases and investments anywhere Visa is accepted
- No minimum purchase amount or limit to the number of purchases allowed in a day (but limitations include 25K daily card limit, 50K monthly, and 600K annually)
- No additional hidden monthly fee or cost
- Straightforward terms: with every transaction made by the Kabbage card, it creates a new, six-month loan that has the same fees and terms as customers' other six-month business loans.
Kabbage Desktop and Mobile App
Users can apply for funding and manage their business line of credit through the Kabbage mobile app and desktop version. The option for mobile usage is paramount for businesses that want to stay competitive, and the Kabbage mobile app averages 4+ stars by mobile reviewers for its utility.
Repeat Users
The average Kabbage customer utilizes the line of credit four times a year. This indicates that many businesses are using Kabbage's service and that the payment scale is affordable and sustainable. Additionally, the high number of repeat users indicates that Kabbage's application and approval process is streamlined for small businesses. Customers simply need their financial documents and a quality credit score. If a customer qualifies, there is an instant approval, rather than an extended waiting period.
The Bad
- Short-Term Solutions
- Low Amounts of Capital
- Personal Guarantee
- Exclusions
Short-Term Solutions
As mentioned earlier, Kabbage's lending platform is based on the line-of-credit industry. When customers apply for a loan with Kabbage, it is a short-term solution. Most Kabbage clients use their funds for short-term needs, such as equipment upgrades, purchasing inventory, or funding payroll. Kabbage does not offer traditional loans, large loans for bigger businesses, or other types of conventional funding. Another factor to consider is that Kabbage does not offer an SBA (Small Business Administration) service. Therefore, the borrower is not included in some key SBA programs. Other limitations include:
Low Amounts of Capital
Kabbage only lends business owners a maximum of $250,000. This amount makes sense if there are only 12 months to pay back the loan, but it's not a large enough working capital for many businesses.
Personal Guarantee
When someone takes out a Kabbage loan, they state that "you personally guarantee that you will pay back your loan, but you do not have to put up any real estate or personal collateral." In many cases, a personal guarantee requires the borrower to put up personal collateral. This confusing language makes it difficult to know what collateral customers are really promising to Kabbage when they take out a loan. Read Kabbage reviews below to learn how borrowers feel about the lender and the personal guarantee.
Exclusions
Like most online lenders, Kabbage does mention a few industries that aren't eligible for funding:
- Marijuana/CBD companies
- Firearms
- Gambling
- Financial institutions
- Lending organizations
- Nonprofits
The Bottom Line
Kabbage is a great way for small business owners to secure short-term business loans. Borrowers should consider Kabbage as a lender if they need small amounts for immediate short-term needs, such as new inventory purchases or payroll. Potential Kabbage loan customers should read Kabbage business loan reviews if they want get a better grasp of what the company has to offer. Overall, if you don't mind waiting a few days for funding, can work with low amounts of working capital, and you feel confident in your ability to pay back the loan (and don't mind having a personal guarantee attached to the loan), we recommend using Kabbage.
If you want to see how customers feel Kabbage measures up to other business lenders in regards to term loans, loan amounts, repayment terms, customer service, and more, check out Kabbage reviews below.
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User Reviews
Star Rating
858 Reviews
Review Breakdown
Sentiment Criteria
Sean Peterson
I like that when I call with a question I get an answer and Marcus is always so professional and actually cares, he wants to help you. I really appreciate Marcus’ attitude and level of service. Thank you!
Robert Lamb
Jules was outstanding. Took care of my withdrawal issue in just a couple minutes and was a delight to speak to. She’s got a bright future. Thanks Robert Lamb
Calder City Taxicab
I had a cash flow problem, and was going to have a hard time making my scheduled payment. Jared L. was very helpful and explained my options to me. It is very hard when you have to make a call like this, but he was very kind.
Cornelius Spillane
I was very impressed with the Kabbage Team and they service. The application process was very easy and the questions we had were answered very quickly by Jules and Marshall. Jules was very professional and helpful.
Daniel Roberts
Kabbage has horrible customer service!! I’ve been with them over a year and a half. Only time your assigned case worker emails u if they want you to pull out money. That’s it!! My credit line is only 9,000 dollars the same amount since I opened it. Never missed a payment or was late. When u want to reach out to them it’s terrible. Literally I’ve been trying to reach my account manager for months. He never replies to my email. I try to call no one calls me back. It’s ridiculous. Last time , I talked to my account manager was in November it’s January. Almost 2 months now trying to reach him to ask a simple question. U call customer service they tell u that they cannot help u. U must talk to your account manager. Very Very unprofessional
Louis C
Top notch customer service, very competent personnel, too bad that there are not more companies in or country that raise to the level of Kabbage, when it comes to support.
Theodore Maranda
I discussed a loan request with Kellie today and was very pleased with the service I received. It was excellent. Thanks Kellie.
z miller
Kellie was very helpfull fixed the problem. We have only been with them for a little while but it has been quick and easy to get the things done that they needed and to use the website to access the funds as we need them. Thank you Kellie for fixing the problem in a fast and friendly and professional way.
Julie
Jules answered all my questions. Thank you Jules for being patient with me and helping me with my pile of confusion!! Kabbage is #1 in my book.
Debra Nickle
I have used Kabbage for my business for several years now. It is a great convenience for me. Today we had a glitch in the system with processing, but Zelenka helped me to immediately resolve it so that I could get on with my day! Thanks Zelenka!!
David Garofano
I have used Kabbage for over 10 years, never an issue. I recently had some issues with my health and needed to contact them about an issue. Jared was the representative I dealt with. He was awesome to deal with. 5+ stars. Thank you
Reply from Kabbage
Feb 21, 2019
We are glad that you were able to get that resolved! Thank for your review!
R. Cahill
Jules was able to help with some questions I had with my account, which was great because I was super confused. She was polite and even made me laugh a few times. Thank you Jules!!!!
Reply from Kabbage
Jan 15, 2020
Thanks for your review!
Lolo
Jules gave great information. Thank you for the help. Awesome customer service at kabbage you guys rock
Reply from Kabbage
Jan 15, 2020
Thanks so much for this great review!
April of FOXERS
JULES! Kabbage has been there when I needed them. Now that we're adjusting to a new loan process I have had to call in twice and today I received Jules. She was so understanding and I never felt like my efforts were a dead end like when dealing with most financial institutions. THANK YOU Jules! You gave me peace of mind for the weekend. I'm so thankful to be a customer of Kabbage. Soon it will be my source for other financial channels. I am proud to be a Kabbage customer. Best wishes to continued success team Kabbage, especially Jules and Zalenka. Sincerely and respectfully, April Spring, FOXERS
Reply from Kabbage
Jan 15, 2020
Wow, thank you so much for leaving this awesome review! We are glad that we were able to assist!
Kendall Denson
Zelenka was my customer service agent on 1/13/2020, she was great and fabulous and knowledgeable. She assisted me to the end and I'm Thankful for her assistance. My God continue to bless her and in all her future endeavors. V/r, Kendall Denson Denson Enterprise, LLC Houston, TX
Reply from Kabbage
Jan 15, 2020
Thanks so much for this awesome review! We appreciate it!
Denise Andreu
The customer service is excellent. Marcus handled my situation as if it were his own. Would not stop trying to help me until he knew he had done everything he could to have me hang up happy. Thank you Marcus !!!
Reply from Kabbage
Jan 14, 2020
We appreciate you taking the time to leave us a five-star review!
Randy Lewis
Our company has always had a great experience with Kabbage. We use them annually for ramping up inventory for a summer contract job we produce. It is a lot easier process than going to our local bank. Jared is very good at what he does and responses very quickly to any questions I might have.
Reply from Kabbage
Jan 14, 2020
Thanks for this great review!
Allan Michell
Stanford S was extremely helpful and VERY patient with me. He explained the entire process for me regarding drawing funds. Thank you Stanford.
Reply from Kabbage
Jan 13, 2020
We appreciate your review! Thanks so much!
Nelson E. Rincon
Excellent service. Kabbage was Key to relaunch our operations. Our contact representative Jared provided an outstanding service
Reply from Kabbage
Jan 13, 2020
Thank you for leaving us a review!
Andy Barber
Ryan W answered my question quickly and got my issue resolved.
Reply from Kabbage
Jan 13, 2020
Thanks for your review!
Mousa Abu Hamdah
Today Sat Dec 28, 2019 I called at 2:11PM Pacific time and spoke to Patty L. She was prompt and super fast to finish my request in 3 minutes. Patty deserves 5 stars. Excellent customer service.
Reply from Kabbage
Apr 12, 2019
Thanks for your review!
Robert Rose
Marcus was very informative and cordial. Thank you for your help!
Reply from Kabbage
Dec 30, 2019
Thanks for the review!
RN
She did a great job and was SUPER helpful in solving my issue.
Reply from Kabbage
Dec 30, 2019
Thanks for your review!
Sara
You guys are just awesome. The reason I was able to move into a 7,000 square foot space from a 1900 sq ft space is KABBAGE. a company of kind people who care about their small business owners. Of the dozens I've worked with you guys are by far the best. THANK YOU
Reply from Kabbage
Sep 03, 2019
Thanks for sharing your feedback with us!
Valerie Dmoski
Diane L and Daniel J have been very helpful at a time when we needed to defer our payment. Very appreciative of their professional assistance.
Reply from Kabbage
Dec 30, 2019
We appreciate this great review!
Steven C
Kevin and Patty were very polite, informative and helpful on my recent call. I appreciate the good customer service I received.
Reply from Kabbage
Dec 30, 2019
We appreciate your five-star review! Thanks so much!
Sabrina
I have been a customer of Kabbage for almost a year now and I am at a loss for words. My business fell behind financially during a holiday slump, after a timely payment record. I did not know what to do or how to fix it. Even though I wasn't quick with responding to emails and phone calls, when I called they were very understanding about my situation and offered a workable payment plan to help me catch up without late fees. Most companies turn nasty when you can't make your payments timely, but Kabbage was understanding and pleasant. Latoya & Matthew, thank you for treating me not just respectfully, but like a family member you care about! Always, Sabrina
Reply from Kabbage
Dec 30, 2019
Thanks for sharing this great story with us, Sabrina! We are glad that we were able to assist!
Anthony Austin
I appreciate Kabbage for all they have done for me and I also appreciate Jess for the phenomenal help and customer service. Thanks 🙏 guys! Anthony A.
Reply from Kabbage
Dec 30, 2019
Thanks for taking the time to leave us your feedback!
Ramona Christine
Marcus was extremely helpful. I appreciated that he took the time to help me understand how the loan and billing process works. Marcus also took the time to show me how to manage and view the answers to the questions I was asking. Thank you Marcus!
Reply from Kabbage
Dec 30, 2019
Thanks for taking the time to leave us this review!
James
Caty B in customer support went above and beyond for me when I had a medical emergency that impacted my ability to make a payment on time. She was very compassionate and went out of her way to help me during this difficult time.
Reply from Kabbage
Dec 30, 2019
We appreciate the five-star review, James!
John
I have been with this company for several years and I am very much satisfied with their service.
Reply from Kabbage
Dec 30, 2019
Thanks for the review!
Kim Brooks
I've been a Kabbage customer for a long time. I've been fairly pleased with them all the way around. Their customer support is the best. Stephenie W. really helped me out when I needed some extra assistance. The only thing I would say is they don't re-evaluate your business revenue very often. I make almost 4 times in my company than I did when I started with Kabbage and my line has never changed. Other than that, I've been a very happy Kabbage customer.
Reply from Kabbage
Dec 15, 2019
Thanks for your honest feedback! We will share this with the appropriate teams, and we are glad that you have chosen Kabbage as your funding partner!
SYED AHMED
I appreciated how the Person Jerrad helped me out to submitting the application and opening the account with Kabbage.
Reply from Kabbage
Dec 15, 2019
Thanks for taking the time to leave us a review!
George B.
Kabbage has been great, truly pleased with their product and service. Can’t say enough good things about my experience with support, Jared went above and beyond to resolve my business loan issues. Very impressed and looking forward to continue growing our business relationship with Kabbage.
Reply from Kabbage
Dec 15, 2019
We truly appreciate your great review!
Gloria Jackson
Jared was extremely patient and helpful with me. Kabbage is very easy to work with. He also helped to find Nelson L the originator for my loan. Both of you are super. Thanks Kabbage!
Reply from Kabbage
Dec 15, 2019
Thanks for your review!
Nancy
Marcus was very helpful and resolved all of my issues quickly.
Reply from Kabbage
Dec 15, 2019
We appreciate you taking the time to leave a review!
Dolan Torres
Lucas is a very professional person He was able to meet my needs I highly recommend him
Reply from Kabbage
Dec 15, 2019
Thanks for the great review!
Zachary
The responsiveness, customer service and ease of approval is entirely superior to the Banking industry. The rates for Lines of Credit are amazing compared to the Banking industry in my company's situation using Chase as a comparison at 7.75% versus around 1.5% with Kabbage. My only issue and why I gave it a 4 Star versus 5 Star is that whatever funds utilized must be payed back within 18 months at the high end and payments must begin immediately according to their schedule not yours. I can live with it but this is where Banks are superior as they often allow you not to pay it back at all for some time and its based on your schedule not theirs. Overall its great that Kabbage exists and I hope these often illogical and anal retentive folks that approve loans at Banks become unemployed very quickly.
Reply from Kabbage
Dec 15, 2019
Thanks for your honest feedback! We will share it with the appropriate teams and always continue to evaluate our product to improve it!
Phil
I had some questions in regards to my account with kabbage, Kate was great she was able to answer them all and follow up with me in a couple of days to make sure everything was good. Great service
Reply from Kabbage
Dec 15, 2019
We appreciate your five-star review!
Rose Ann Colon
I am so great-full for Kabbage working with me instead of against me like most lenders have a tendency to do. Marcus so sweet and polite although his fast talking skills where as you have to be an attentive listener like I which had no problems catching every word, but some may have a problem catching what is said. Every word spoken was to help my needs. Marcus was understanding and even got a supervisor request so I the customer was happy. You see they make exceptions to the rule to those value customers, so I must be a value customer which made me feel ever so comfortable with the Kabbage family as they made my company and I feel more welcome as part of the Kabbage family. If your a small business as I am you will not be steered wrong with Kabbage. I am so great full that God has our back and pointed me to the solution to the problem as HE always does. No, I was NOT coursed in saying above facts. I always give credit where credit is due. And always leave bad comments to where those sites are due too. I am honest and truthful to my words and I stand by them all. Everyone have a blessed Thanksgiving.
Reply from Kabbage
Dec 15, 2019
Thank you so much for leaving this awesome review! We are so glad that you have chosen Kabbage as your funding partner!
Michael Castlebury
Jared worked with me to get the funds I needed. He was a great help and I really appreciated his help.
Reply from Kabbage
Dec 15, 2019
Thank you for leaving a review!
Tracy R.
Kate was very helpful with what I needed to accomplish today.
Reply from Kabbage
Nov 21, 2019
Thanks for your review!
Rich Walker
Kate was very prompt in addressing my concerns!
Reply from Kabbage
Nov 21, 2019
Thanks so much!
Carlos C.
Easy interface, fast approval, very flexible platform. Expensive at first, but managed to negotiate better rates down the line. Great product, Jess R was great help.
Reply from Kabbage
Nov 21, 2019
We appreciate your great feedback!
Robert madhosingh
This company gives prompt service and is by far my number one lender! They have great rates! The ease of doing a transaction is a click of the button! Awesome service
Reply from Kabbage
Nov 07, 2019
We really appreciate this great review! Thanks!
Ash
I called on a Saturday about an issue with my account and spoke with Kate, who was able to help me quickly. She was so friendly and she made the experience so easy for me! It's easy to pull funds when I need to and the customer service is extremely helpful.
Reply from Kabbage
Nov 06, 2019
Thanks so much for leaving this great review!
Diego N.
I needed clarification on requested documents and spoke to Kate and she provided a great service advising what was missing.
Reply from Kabbage
Nov 06, 2019
Thank you for leaving us great feedback!
Matt Heintschel
Diane was very helpful. She is very knowledgeable in all the matters that i was concerned with.
Reply from Kabbage
Nov 06, 2019
Thanks for your review!
Grace L.
Kabbage has been extremely helpful in helping us grow our business from the start. Their customer service has been wonderful each and every time I have spoken to them!
Reply from Kabbage
Nov 06, 2019
We appreciate you leaving us a review!
ERROL MENDIOLA
Jared L. was extremely helpful. He took care of my issue immediately.
Reply from Kabbage
Nov 06, 2019
Thanks for choosing Kabbage as your funding partner for your small business!