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Kabbage

Kabbage
Overall Satisfaction Rating 1.95/5
  • 5 stars
    22
  • 4 stars
    1
  • 3 stars
    2
  • 2 stars
    2
  • 1 stars
    78
Based on 105 ratings submitted in the last year
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    Kabbage Reviews

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    Page 1 Reviews 0 - 10
    Rated with 5 stars
    Verified Reviewer
    Original review: May 15, 2020

    Kabbage is definitely worth the effort. Their process is simple, streamlined and fast track. I cannot thank them enough for the seamless process from application to approval. My bank FRB had recommended them. I was a little skeptical at first but decided to give them a try. I had all my documents and the approval took less than 2 days. I have referred many of my friends who are small business owners to try them out. Very impressed and satisfied with their services.

    5 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: May 14, 2020

    Working with Nelson ** to finalize my PPP loan process has been fantastic. I was approved for PPP about a week ago and had to call to finalize my deposit instructions. But because of the high demand, I couldn't get through. I'd emailed as well but hadn't heard back from anyone. I decided to reach out to the CEO on social media and ask for his help. He responded almost immediately, the same day. And he put me in touch with Nelson on that same day. Nelson called me that day and was professional and patient. He walked me through the entire process to make sure everything was taken care of. The Kabbage team, from CEO to loan processor, is going above and beyond to make sure that small businesses are receiving PPP funding during these times. I HIGHLY recommend their service.

    9 people found this review helpful

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      Rated with 5 stars
      Verified Reviewer
      Original review: April 2, 2020

      I spoke with Tobias ** this afternoon regarding my loan payment due in four days. I’ve been with Kabbage for almost a year and they are very professional and easy to work with. Not only did Toby defer my monthly payment until next month, he immediately turned off the auto withdrawal for now. He took the time to carefully explain what I could expect and gave me his direct number if anything didn't happen the way he said. I appreciate very much that he took charge about the current situation is working with so many businesses impacted by the Covid-19.

      12 people found this review helpful
      Rated with 5 stars
      profile pic of the author
      Verified Reviewer
      Original review: April 2, 2020

      I called in this morning and spoke with a gentleman named Tobias, regarding my loan payment due in five days. I’ve been with Kabbage now over a year and they are very professional and easy to work with. Not only did they defer my monthly payment until next month they took the time to answer any concerns and questions that I had. I appreciate very much that the company is working with so many businesses impacted by the Covid-19.

      5 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: April 2, 2020

      I called very stressed over a payment due in 2 days. I spoke to an account health specialist Jonathan W. He immediately reassured me that they would work with me. He took my large 1st payment that was due and cancelled it for April and actually said. “Let us take this off your plate right now so you don’t have to worry and can concentrate on being safe”. Amazing, amazing. Huge relief. I recommend Kabbage to everyone and have been telling other business owners that this is the type of company you need on your side during this terrible pandemic.

      6 people found this review helpful
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      Rated with 3 stars
      Verified Reviewer
      Original review: May 21, 2020

      I turned to Kabbage for a PPP loan when I had trouble with another company. It was very easy to apply for the loan through Kabbage, and Kabbage promptly submitted it to the SBA, and I received almost immediate word that I had qualified. Then, however, the process stalled. I was unable to complete the last step of the process, one step shy of being able to sign loan docs, and I received an online message to call Kabbage at the number listed. Problem was that they never answered the phone. Nor did they return numerous emails, and all the while the loan expiration date arrived.

      At that point, I saw a few reviews where people went on Twitter to try to get the attention of the Kabbage team via direct message, and that proved successful for me too. They responded that I would be contacted within a few days, and I was. And then the final steps were completed. Does that rate 1 star for the inability to communicate for several days, or 5 stars for ultimately getting the PPP loan? I split the difference at 3 stars.

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      3 people found this review helpful
      Customer increased Rating by 4 stars!
      Verified Reviewer
      Resolution response: May 28, 2020

      They resolved my matter immediately and with the best customer service that I’ve known them to have. They must have just been logged down a bit but came through with my loan in a big way. Thanks Kabbage!

      Original review: May 20, 2020

      PPP process failure. It says I’m approved and to call to confirm the deposit account. Calling is impossible. The prompts don’t work and I keep getting disconnected. I’ve emailed several times but get no response back. Very upsetting.

      2 people found this review helpful
      Customer increased Rating by 3 stars!
      Verified Reviewer
      Original review: May 20, 2020

      Updated on 5/20/2020: Howard has called and given me his direct number to resolve this issue. Thank you! I look forward to us resolving this issue and accepting my PPP loan during this difficult time for small businesses. I'm glad Howard is making this right!

      Original Review: I had been referred to Kabbage for a PPP loan, during this Covid-19 pandemic, and was impressed that I was approved the very same day. That was May 7, 2020...since then I have had problems verifying my bank information and have emailed and called numerous times nearly every day...the first time I came into contact with someone was May 16, 2020 after 45 phone calls that day. He was very friendly and said the issue would be resolved by Monday...it wasn't! I called Monday and spoke to Howard, he said it would be resolved by Wednesday...it wasn't!

      I called Wednesday, May 20, 2020 and Howard answered again and after I said I spoke to him most recently, he acted as though we had been disconnected as I could clearly hear him breathing in the phone as I would say, "Howard, Howard can you hear me? Howard, Howard...Howard. Are you there" only to be hung up on. I immediately called back and the first call had been kicked out due to call volume and my second call was picked up and hung up!!!! Very disappointed with the follow thru as I'm waiting for this much needed useful PPP loan that is due to be expired...

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      Rated with 1 star
      Verified Reviewer
      Original review: May 19, 2020

      Kabbage has not helped us during pandemic!! We have been with Kabbage for a couple of years, we were rather satisfied with them, we always made our required payments on time. No issues until the pandemic hit, and now NO help whatsoever, as other lenders are giving us at least 3 months with no payments or late fees. Kabbage on the other hand pays no attention to numerous emails and phone calls to let them know we cannot pay the payment they want. We can and are paying a much lower payment on our own. We had our bank reverse every payment we told them we could not pay, so now we are mailing our payments. They have offered absolutely no realistic solution, during this difficult time, it is as though they are oblivious to what is happening to everyone!! We will pay off our loan on our terms and never use them again!!

      8 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: May 18, 2020

      This company is responsible for willful neglect! You take on PPP loans to "help" small businesses and take on too much! No support! No documentation review, LOUSY and RUDE customer service! I am blown away with this company! STAY AWAY!

      8 people found this review helpful
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      Kabbage author review by Barbara Friedberg

      Kabbage is a non-traditional small business lender that provides cash strapped businesses a line of credit. Kabbage uses a variety of data sources used by the borrowers’ business to quickly deliver funding.

      • Products: Line of credit available for any type of business and working capital activity. Uses for Kabbage include inventory, equipment, staffing and website funding. Kabbage also offers an app to access borrowed funds.

      • Interest rates and fees: Calculated regularly based on the total amount borrowed, fees range from 1.5 percent to 12 percent on the selected loan amount. The maximum monthly interest rate is 12 percent. Loan terms are either 6 or 12 months, and no initial application fees are required.

      • Service: Rapid online signup. Borrower may link any type of business checking, PayPal, Amazon, Save, eBay, xero stripe, etsy square and more accounts. Funds can be deposited into most types of online business platforms.

      • Borrower qualifications: Real time business data determines the borrower’s qualifications. No paperwork or credit score is required. Businesses must be in operation at least one year with $50,000 or more in annual revenue.

      • Fast approval process: After linking accounts, the response is quick.

      • Loan limits: Lines of credit are available from $2,000 to $100,000.

      • Repayment options: Loans are for either six or 12 months with monthly repayment terms.

      by Barbara Friedberg Personal Finance Contributing Editor

      Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.

      Kabbage Company Information

      Company Name:
      Kabbage
      Address:
      730 Peachtree Street Suite 350
      City:
      Atlanta
      State/Province:
      GA
      Postal Code:
      30308
      Country:
      United States
      Phone:
      (888) 986-8263
      Website:
      www.kabbage.com