Kabbage small business loans are perfect for anyone who needs quick working capital and cash to pay for short-term expenses, to stock up on inventory, or other miscellaneous expenses. Founded in 2009, Kabbage approves small business loans and lines of credit of up to $100,000 for business owners. To date, Kabbage has funded over $1 billion to small businesses to provide them with working capital quickly.
Kabbage Provides Business Loans of Up to $100,000
Kabbage approves business loans based more on real-life data, and not just a credit score. Their online application process takes only minutes to complete, and borrowers can be approved and funded just as fast.
Kabbage is great for businesses that:
- Need working capital quickly
- Have little or bad credit
You can get started now, by applying at Kabbage:
Qualifying for a Kabbage Business Loan
When getting a small business loan with Kabbage, they don’t require a minimum credit score, and they don’t require you to back loans with any kind of personal guarantee. Although, there are a few qualifications you need to meet to receive a loan, including:
- Have more than $50,000 in annual business revenue
- Have been in business for one year or longer
- Have a business bank account or Paypal account
Benefits and Features of Kabbage
Immediate access to funds. Kabbage is best for businesses that need cash quickly and funding immediately. Unlike other lenders, Kabbage doesn’t require any type of paperwork for the application, instead you simply link your business PayPal or bank account to Kabbage. You’re also able to link any other accounts your business has, like Amazon, QuickBooks, Square, Xero, eBay, and Etsy. By linking additional accounts, it gives Kabbage additional information when reviewing your business loan application.
Technologically advanced underwriting methods. Kabbage is truly a one-of-a-kind lender that has revolutionized the way business lending is done. Unlike any other lender, Kabbage breaks away from traditional lending practices, and use innovative techniques to make lending decisions, like your business’s social media activity on Twitter or Facebook.
When you’re approved for a Kabbage business loan or line of credit, you can simply grant Kabbage access to your businesses social media accounts data. Kabbage will use the data from your social media accounts to help them decide whether or not to increase your business line of credit.
Good for business owners with bad or little credit. Kabbage is the best option for business owners who have bad credit or who are unable to get approved for other loans. Unlike any other lender, your credit history and credit score will have little impact on whether or not you’re approved for a Kabbage small business loan or line of credit.
When applying for a business loan with Kabbage, even though they do check your credit history, it’ll have little effect on whether or not you’re approved for a loan, and they don’t require a minimum credit score. Loan approval and lending decisions are primarily based on the accounts you link to Kabbage, the number of years you have been in business, and your annual business revenue.
Kabbage Business Line of Credit Requirements:
- Minimum Credit Score: None
- Minimum Required Time in Business: One-year
- Required Annual Revenue: More than $50,000
Kabbage Loan Overview:
- Type of Business Loan: Lines of credit
- Loan Approval Time: A few minutes
- Funding Cost: 32% to 108% APR
- Loan Terms: Six months
- Loan & Funding Amounts: $2,000 to $100,000
Kabbage Business Funding Summary
Kabbage provides small business loans online and has an automated application process. You’ll receive funding immediately, and your credit score has little effect on whether you’re approved. For these reasons, Kabbage is a great options for business owners who need cash quickly or have bad credit.
Finding the Perfect Small Business Loan
You can compare Kabbage to other small business lenders, by viewing Oddball Wealth’s small business loan page. Compare rates, loan requirements, time it takes to get approved and receive funding, and read a detailed summary of each lender.
Author: Tyler DeBroux
Tyler started Oddball Wealth towards the end of 2014 after graduating college, as a way to stay relevant in his area of study, stimulate his mind, and to educate and help others.
Tyler has worked in the financial services industry, as a financial advisor, helping his clients make wise financial decisions and personalized long-term financial plans. Since graduating college in December of 2014, Tyler has paid off more than $15,000 in student loan debt and counting, his goal is to have all his student loans paid in full by the in of 2016.
Tyler is an entrepreneur and an expert in personal finance. Two of his many hobbies include investing and building online businesses. He is also a big advocate of early retirement and an aggressive saver, who utilizes any financial resources and tools available to him to help reach his goals for achieving financial independents.