Line of Credit by Kabbage

Line of Credit by Kabbage

Kabbage provides working capital to small businesses. They link to your bank or merchant accounts to understand your cash flow and decide what amount you can afford to borrow. The service is easy to use if you need some cash quickly. The approval process can take as few as 7 minutes and you will receive the funding immediately.

8.0/10

Cost
40% Complete
Low High
Effort to Apply
10% Complete
Easy Difficult
Funding Speed
10% Complete
Minutes Months
Repayment Terms
60% Complete
Months Years

Bottom Line

It's expensive but a great way to cover cash flow emergencies. This would be a good option if other cheaper alternative is unavailable or takes too long.

Pros

Minimal Documentation. Fast Approval & Funding. No prepayment penalty.

Cons

High Interest Rates. Short Repayment terms. Taking over your Paypal and Bank Accounts.

Qualification Requirements

Business Sales Data

Online credit card sales, checking, Quickbooks, etc...

Time in Business

At least 12 months

Credit

Strong business and personal credit.

Application Requirements

Cashflow

Personal and business financial information

Personal Identification

Social security, valid driver's license or passport information, birthdate

Contact Information

Business name, applicant name, and contact details

Personal Taxes

Past tax returns (we can retrieve electronically)

Business Taxes

Past tax returns (we can retrieve electronically)

Owners

Names of business owners and ownership percentages

Business Details

Tax identification number, type of business, date of inception

Incorporation

Formation and other business documentation

Credit Report

Personal and business credit report

Cost
20% - 90% APR
Repayment Terms
Monthly for 6 or 12 months
Funding Amount
$500 - $150,000
Funding Speed
As fast as 7 minutes.
Application
All digital.

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