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Kabbage funding provides small businesses with short-term loans and lines of credit. Kabbage loans are available in six-, 12- and 18-month installments. If you choose a Kabbage line of credit, you could be approved for up to $150,000. There’s no obligation to use the entire amount, and you don’t pay anything until you withdraw money.
Overall Satisfaction Rating
- 5 stars
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- 1 stars
- No credit score necessary
- Quick loans
- Transparent about fees
- No long-term options
- Front-loaded payment plan
Kabbage provides businesses with fast loans and lines of credit. The speed comes with some high fees, but its loan calculator lets you see the costs upfront. The company approves lines of credit up to $150,000.
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I applied for second round of PPP. I was denied, now they are holding me hostage as they won’t withdrawal my application. Which means I can’t apply anywhere else. Poor customer service, they put you on hold only to be disconnected after being on hold forever. This company is horrible!
I received my 1st PPP loan through Kabbage. They had all of my info. Then the 2nd round they asked for all of these crazy verification documents which I successfully submitted, AFTER they had already provided an approval notice. I just received a message saying my approval expired because I didn’t accept it. They may have lost me an opportunity to receive PPP funding when I need and deserve it as a legitimate business. Do not work with Kabbage! I will be pursuing legal counsel to bring their unprofessional and unjust business practices to light.
Beyond bad service, it is clear they are out for themselves. I was approved for the PPP on the first go around. Then I got an email stating they withdrew my account, okay will I thought I missed out due to the timeline ran out. Now the program is open again and I applied with a different company and come to find out SBA is saying that they cannot approve me with the new company due to they the SBA already has a loan approved for me. Well to my surprise I was like ummm they withdrew it now they will not release it so I can use the new company.
I put in a ticket that took me two days of calling to get a live person. They said it would take 72 hours to get resolved. NO DICE. I have not hear from them. It is now the 17th. They still have no answers, plus the person on the other end has NO UNDERSTANDING OF BASIC ENGLISH. Are you kidding me right now, I went last year 8.5 months with no pay, I have gotten no pay this year and I cannot even get any help that the USA is "offering!?" So is this a joke and the US Government is putting on like they are helping us small business owners to make themselves look better than they have. Typical they will not be happy until 30% of the people lose everything.
The first round of PPP loan; everything went well but with the 2nd..this ishhhh sucked. The customer service ain’t no help and every one always have something diff to say. I changed my bank and submitted all of the documents that they needed and it’s been over 2 weeks and still no update or money. I asked to speak to account services myself and they say, they have no extension to be transferred over to but they’ll submit a ticket for them to review. Y’all been reviewing for the past 2-3 weeks and still nothing. This the worst company ever, I should of went with someone else! This pisses me off. I still don’t have an answer on where are my funds...
Joined Consumer Affairs just to right this. Used Kabbage for the first PPP loan and total nightmare as communication was totally nonexistent. They do not answer phones, they do not reply to emails and everything eventually happens without any notice. I just went on-line to check on status after submitting everything twice over a month for the 2nd PPP and got a notice on their site after logging in they were not servicing my 2nd PPP loan, even though originally their instructions were they would service 2nd PPP loans from the 1st PPP applicants.
Kabbage represents themselves as a SBA lender for PPP Loan to businesses. I received the amount of $14,316.00 from them on May 08, 2020. When it comes to PPP forgiveness they have no clue what is going on. When you call you will talk with a customer service agent who has no knowledge of the PPP process. If you have not gotten a loan from them I advise you to stay FAR FAR AWAY!. They now are demanding a $967.25 payment due Mar 07, 2021. I have detailed what happen below.
• Dec 01, 2020 I uploaded payroll documents(Payroll Service ADP) first time.Dec 10, 2020 I received an email from Kabbage stating that there was missing documentation.
“To verify your payroll costs during the covered period”.
• December 10, I uploaded payroll documents (Payroll Service ADP) for the second time.December 22, I received email again "To verify your payroll costs during covered period"
• December 22, I called the phone number listed in email. 888-351-3143. I spoke with their customer service agent who could not find my payroll documents in my portal.
• While we were on the phone, I uploaded payroll documents for the third time. She assured me that she had received the missing information.December 28 I received email from Kabbage: "Unfortunately your application was declined for the following reason(s):"
“Unable to verify your submitted forgiveness amount and/or documents”.
• December 28, I have emailed and called them ever since trying to find out what is the problem with my documents. I have tried to resolve this but no one seems to know what documents need verifying. No one answers any of my emails asking for explanation and when I called the customer service they had no understanding of what is missing or not verifiable. She put me on hold for 5-10 minutes to speak with her superior. When she came back to the phone she told me the only thing they could recommend is to send my application on to the SBA. Kabbage is recommending that the SBA should deny my forgiveness. They have not worked with me at all to find out what the problem is and now are demanding payments of $967.25 beginning Mar 07, 2020.
After several years with Kabbage the ripoff loan company, they abandoned me as a customer stating that they will not allow any more loans on your line of credit. They control when and why you get the money and how much to pay back. They also control if they want to continue allowing you to use your line of credit they can turn it off anytime. I have never been late even doing the pandemic, but they would not open up to allow funds that can help your business which is why you have the account to have a line of credit when you need it.
Not to have the company (Kabbage) abandoned you as a customer and say because of the pandemic we are not giving out any loans, but they will do the PPP for you which I did not do with them (Thank God). I have just made my final payment with them and I am so happy. They give you a loan and they want it back in 6 months to a year which makes your payments very high. If you can go somewhere else please do so that includes PPP loans.
No one answers phone calls or emails for past several business days, not good considering they only give you 10 business days to respond to their requests. Not using them again. Stay local, deal with a lender in your town.
Used Kabbage for years. Good business model. Then corona and bottom falls out for kabbage and their credit source Celtic. Now they want same amount per month with no replenishment. Major lawsuit soon.
As so many others wrote their PPP loan application customer service was nonexistent, they didn't approve, although I was clearly eligible, called them many times and emailed them, never got through to a human until today, when I suddenly received a humans email response more than a month after the PPP loan deadline. They shouldn't have offered this service, if they can't deal with it and don't have any customer service, companies were relying on them and lost out by being told that the loans weren't going through after PPP application deadline, we could have applied with other banks, who would have communicated with us. Shame on Kabbage, they are a group of incompetents and frauds!!! Wasting people's time and misleading them. They owe apologies to hundreds of small businesses, however, their apologies won't help at all.
Kabbage Company Information
- Company Name:
- 730 Peachtree Street Suite 350
- Postal Code:
- United States
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