Kabbage

Kabbage

 3.9/5 (548 ratings)
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About Kabbage

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
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • No credit score necessary
  • Quick loans
  • Transparent about fees

Cons

  • No long-term options
  • Front-loaded payment plan

Bottom Line

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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Kabbage Reviews

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Page 3 Reviews 40 - 70
Rated with 1 star
Verified Reviewer
Original review: Aug. 14, 2020

I applied for a PPP loan with Kabbage, after few weeks I was informed that Kabbage could not verify my identity. Tried to get a hold of customer service for almost two weeks and nothing. Finally, today I was told that PPP SBA loans are closed. No emails, no follow up from this company. This company was not equipped to properly assist the millions of loan seekers, the SBA should pay attention who gets a license to operate with full service.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 12, 2020

We submitted our PPP application through Kabbage with plenty of time before their deadline and satisfied the documentation requests. We did not receive a single email or any type of notification other than a pending status on the dashboard. Suddenly on 8/11/20 the dashboard changed to a notification that the PPP program has ended and Kabbage "unfortunately was unable to process the application before the deadline". I have been unable to get in touch with anyone at Kabbage to receive an explanation via email, phone or social media. Based on what I see here, on Twitter and on every other channel I can think of, Kabbage is terrible with respect to communication or any semblance of customer service.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 12, 2020

I had originally applied for a PPP loan through Lendio by the original June 30th deadline. They referred me to Kabbage to continue my loan application through them instead. I struggled to complete my application because the website kept crashing and giving an error message. After talking with a rep, they had to reset the application completely. I applied all over again, only to get the error and crash message again. I waited a few days, tried one more time, and it finally went through.

Then, they kept sending automated emails for me to upload additional documents, that they didn’t initially request when I had applied. They kept asking for a schedule C, which my business doesn’t have. After emailing and getting no response whatsoever, and calling and waiting only to get hung up on, I finally talked to someone, who told me they would have to change my business structure on my application on their end, and told me one more additional document that I should upload. I uploaded it that day.

About a week later, I get an automated response that they’ve closed PPP applications and mine didn’t go through. I called to ask why, and they said I never uploaded my schedule C. I told the rep that my business doesn’t have one, that they’re asking for the wrong document, and I had uploaded the correct ones and was waiting for them to change my business to a corporation structure so it could be processed. But it was too late. This cost me thousands of dollars of forgivable loans that I could absolutely have used for payroll. They were utterly negligent and very hard to reach, and if I would have known this from the beginning, I would have applied through another lender.

8 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Aug. 11, 2020

About 3 years ago our business received a small $3500 line of credit from Kabbage. Credit used had been up and down. As of April of 2020 we had used about $2200. Then Covid hit and we asked for a 30 day extension for one payment. Great! They gave us the deferral. Went to make June payment only to discover they decreased my credit line to ZERO. We never had before or after missed a scheduled payment. Kabbage turned their back on small business customers so they could concentrate on doing SBA loans such as PPP. My balance is now at zero and I will looking at a new lending company. One that does not abandon good customers during a most difficult time. Note: This didn't just happen to us but rather thousands of Kabbage customers. All verifiable. From ex Kabbage user.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 11, 2020

I just received an email that we did not qualify for a PPP loan because the application was incomplete. We called multiple times, emails and checked the website often. There was no indication that things were incomplete or any status update. I would stay away from this company as they are incompetent and offer an inferior product.

7 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Aug. 11, 2020

This company sets a new standard for poor customer service. I applied the PPP loan for my client 3 months ago. They refuse to contact us. Their support email is useless, emails are not answered. Stay away from this company. Kabbage - "We don't care. We don't have to."

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 11, 2020

I submitted my PPP loan application complete with all requested documents. 5 mins later I received an email saying "Please submit this documentation". Same documentation I submitted so I clicked the link just to go to a 404 error page. Calls go right to VM saying "Busy". Emailed 3x asking how to resubmit the requested documentation. Climbed thru the whole website. Nothing. No surprise. They canceled my application due to lack of ID verification. Wow... :/ The program is closed now. Thanks, Kabbage. You suck.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 10, 2020

I have never dealt with a bank like Kabbage, very disorganized and no one has a clue about anything I signed my loan papers on July 14th 2020 and I still don't have my funds. They are not complying with SBA guidelines. I might have to shut my business down because these people don't have a clue what they're doing. It's really a shame because I hired another guy to start work and now I might have to let him go because I needed the loan to keep my operation going. This is a sad day when a company like Kabbage steals your loan money.

6 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Aug. 10, 2020

I filled out for the Kabbage ppp on August 6th. I then got a "Congrats, you have been approved for such amount." When I log on, it said in a box to go and sign docs below however, there is no down below. I've called at least 35 times to hear my time ran out after they repeated the same lines over and over again. I've emailed. I've tried to reach out to the CEO still nothing. I understand they are working hard. I feel that's not right for no one to get back with me. I pressed everything from 1 to 0 still nothing. I just would like for someone to let me know where to go from here, my 10 days to sign these docs are coming up and I'm just asking for some help. Thank you.

10 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Aug. 9, 2020

Having been a customer with Kabbage for over 6 years now, I took out many loans in the past for things like inventory and equipment purchases. I've always paid the loans back in full and on time. We had over $20K in credit with Kabbage up until this "pandemic" came about in mid-March. At that time Kabbage decreased our credit line down to $0, refused to let us take any another loan and said they're focusing strictly on PPP loans. I'm not interested in the PPP program and I just want to continue to use our traditional credit line to fund operations. They completely pulled the rug out from under us.

Several calls through their automated maze of a phone system were completely pointless. Emails to our "account rep" went unanswered and we just received automated canned responses back. Shame on this company for pulling the plug on our credit line during the time we needed them the most and shame on this company for playing these games with small businesses. Prior to this "pandemic" aka "the great 2020 media scare," I would have rated Kabbage at 5 stars, but unfortunately after this stunt, they don't even deserve 1 star. It's completely disgraceful to treat your responsible and loyal customers in this way.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 7, 2020

Kabbage quickly approved me for a loan. The last step was supposed to be for me to submit my banking info so that Kabbage could make two small deposits to verify my account. I was to then go to the website to confirm the two small deposits totalling 95 cents. After I did this I never heard anything else. I have a message on the dashboard displaying my approval amount, but there is also a message that states, "Please check below to make sure you've submitted your Uber-generated tax summary. Without this, we cannot disburse your funds. Once you've submitted these documents, we'll review them and let you know when your loan documents are ready to sign." This was copied directly from my dashboard. When checking below, there was nothing displayed. And there is no place to upload anything after the application is submitted!

At this point I called and called the customer service line, only to have the automated voice to say that my queue has timed out after about 5 minutes, and that I would have to call back another time. Then I called at 8am sharp one day and got through to a Customer Service Rep, she then says she needed to put me on hold to review the account, left me on hold for 10 min, came back to say she needed a few more minutes to review my account, 10 more minutes on hold...AND THEN SHE HUNG UP ON ME!!!! Of course I was never able to get through again after trying to call back 5 more times, but getting the timed out queue message again. I then emailed every email I could find on the website. And resent all my tax info and copy of DL to support@kabbage.com. I emailed PPP@kabbage.com, and replied back to kabbage@em.kabbage.com which is the email address from kabbage that keeps telling me to log in to take the loan by a certain day.

I never received a reply back from any of the emails and I only have a few days left until the date that the offer would be withdrawn. But they will not reply back with my loan docs, or the reason why they are not sent to me yet. Besides the fact that I am now infuriated with how poorly customer service operates, I am also afraid that this may be some type of scam and that my identity and financial info is at risk. I gave them my Bank account info and verified it for them and heard nothing else since. This is sad that myself as well as many others that I read about on this review site has been taken advantage of in this way, at a time where people seriously need help the most. I am in the process of trying to get info on what organization can hold Kabbage accountable for their actions. I can't help but to believe that maybe certain loans are being dispersed, but just not to who it was approved for. Hmmmm.

6 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Aug. 6, 2020

About a week ago my husband was approved for a PPP loan, the money was sent, however our bank rejected it, because they wanted it to go to a business account, we'll even we tried called Kabbage for the 30th time, we couldn't get through, so we tried emails, Twitter, and Instagram in received no additional assistance. I thought this could help our business, however it's simply created more stress. I'm not sure if I will ever speak with someone. This is truly becoming a nightmare. What is the next step?

13 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Aug. 6, 2020

I cannot stress this enough, do not be enticed by the easy access that Kabbage makes the loans. They are 100% awful. Awful customer service (ESPECIALLY during COVID, they would leave dozens of voicemails about how we can work with you and help and then when you call them there is ZERO assistance). The Customer service was always extremely rude. Our bank accounts had been compromised and we asked for assistance or a month grace period and push it to the end and the lady legitimately snapped on me on that's not how this works and you have to pay with x days of your due to and you don't get a month your payments are weekly. NO, they were 100% monthly. I could not believe how rude she was.

During COVID we offered to settle, came to an agreement, received the letter of documentation (do not even make a move with them without written proof). We paid in full THAT day. The following day, I get a call saying we didn't pay. I explained we did and she was confused. Then a month later I get ANOTHER call asking for my address, saying we needed to discuss our account, and I said what about, we paid in full a month ago. She said well if you aren't willing to confirm your address we can't discuss and she HUNG UP.

This got me thinking, why in the world are they calling me. I log in and SURE THING, it said I still owed almost $9000. Are you kidding me?! The constant rudeness, the inability to communicate within the company is incomprehensible. For the amount of money you are putting on the line, there should not be experiences like this. Never again, and I hope this review will encourage you to look else well. Be careful, there are TONS of scams out there.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 6, 2020

I submitted an application for a PPP loan a couple weeks ago with Kabbage and I uploaded my 1090 as part of my application. However, I meant to upload my full tax information that was completed by my accountant, which has my 1040, etc. information that was requested by Kabbage. The website, though, didn’t allow for an amendment, so the only option I had was to cancel the application and reapply. However, once I cancelled, it wouldn’t allow me to submit another application. I later was notified that the application was approved (despite it being cancelled).

I have literally called Kabbage over 40 times in the past two weeks to rectify this issue and see what can be done, only to be met with an automated voice message system that continues for 6-7 minutes before telling me my queue time has expired and hanging up on me. I cannot verify any aspect of my application and cannot get a hold of anyone within Kabbage. Their customer service mistreatment is among the worst I've ever seen. Kabbage's support team is utter garbage. Why provide a customer service number if you don't answer people's calls?

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 5, 2020

I was approved for a PPP loan and I was never able to accept the loan do to issues with their website. I called them over 50 times and sent numerous e-mails with no response. When you called your call is automatically dropped after a few minutes in the Queue. Now my PPP loan is denied because I could not take action and I am being told I can't apply for another loan. Worst customer service ever and their actions will have implications to my employees and their lives. I can't even apply using another lender. I would recommend never using them. Very disappointed.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 5, 2020

I applied for a PPP loan with Kabbage over 10 days ago and still have not been funded even though the SBA stats that I have and provided me with my loan number. Kabbage is hold small business owners funds and it not right. Please report them to the SBA at **. Please submit a complaint is this has happend to your business as it has to so many. Kabbage should be ashamed taking advantage of innocent business owners in their time of need and from this thread I am not the only victim.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 5, 2020

The worst lender for the SBA PPP loan. They sent me an approval email, and asked me to log in and complete the form. I logged in and it was a denial message. I checked my business account to find the Kabbage made two deposits of $0.31 and $0.78. I guessed they were trying to verify the legitimacy of my business account, but I never received an email about, there is no link in my Kabbage portal. It has been 3 days now I am calling them, and I have yet to find a way to get someone on the phone.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 4, 2020

Appallingly bad customer service. Avoid at all costs. Was approved for a PPP loan two weeks ago through Kabbage and the experience has been a complete nightmare. Four different reps telling me I'm good to go and to expect closing docs within 24 hours. Then requests for more and more documents with a 72 hour lag in between, over and over and over. They already locked in my EIN with the SBA so I am stuck and can't apply elsewhere. I am truly not sure if this is a real lender or some sort of data collection scam - do not waste your time with Kabbage.

15 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: Aug. 2, 2020

On the 28th of July I applied for PPP and within an hour I was approved. I uploaded all documents as well as my bank info for deposit. When I check my dashboard it says approved and to check the items below to see what documents are still needed. It shows my bank info which I’ve already submitted. I have emailed Kabbage. I have called several times only to be put on hold and then told I have been on hold too long and disconnected. Horrible customer service. I can not get any info from these people to what my status is. The deadline is August 8th. It’s been a week and I’ve heard nothing. Probably have to withdraw my application and look elsewhere. I am going to be applying for a SBA Loan soon and I will not use this company.

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 30, 2020

In this difficult time it is a shame a company play games when small business owners are struggling for keep business open and even feed their families. Kabbage approved my PPP loan quick, everything was fine but deposit account verification. I sent a void check with my info, also a bank letterhead with all my info.. After 20 days they sent a an email my offer has expired.. Are you kidding me!!!! Worst experience ever!. I lost time and other chances to apply with another company waiting on them. What a disappointment and a lack of professionalism!!. Kabbage has the worst customer service!!!!

23 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: July 23, 2020

Thank you so much! I didn't decide to apply for a PPP loan until Friday July 17th. Then read the list of docs needed to submit with the application - and decided to wait until Monday July 20th to get my office manager to help gather them in PDF format. I filed my application by 9:10 Monday morning. Being prepared, I had everything ready to upload, and the bank account number handy. The funds are in my account by 7:00 am Thursday. This IS for real. And it works very well - if you read and follow the instructions.

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

I filled out all the required forms and received an email that I needed to upload another document to proceed with approval. This happened 5 plus times. Each and every time I uploaded documents and listed questions and each time they came back with the same information. The document upload page is not accessible after the application has been submitted. There is no phone support, no reply to emails to customer support. I must have called 20 times, was put into the cue then hung up on after I was timed out.

I finally spoke to agent, who was extremely difficult to understand, English was not her first language. I would not get off the phone until she put me in touch with her supervisor. After waiting 2 hours I was told the supervisor would call me in the morning. I would not leave the conversation without names and a time for the phone call. The supervisor ZHYLA ** never called me and their email support has yet to respond to my 10 plus emails. The other reviews posted refer to names the applicants worked with and what a great experience they had. This is the complete opposite of my experience.

I'm applying for a PPP loan to survive the pandemic, and Kabbage has been completely unresponsive, unethical and very unprofessional. Looking for other lenders. I wasted 1 month, I have EXCELLENT credit and was approved and given another loan less than a week. Now they are out of money BUT they absolutely were not in the beginning. How is this company able to operate this way...

35 people found this review helpful
Rated with 5 stars
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Verified Reviewer
Original review: July 17, 2020

So I am just going to try and run down what happened between applying around 8am yesterday (7/16.) At 10:08 am I got the Congratulations, **CC, has been approved a PPP loan for $**zx. I thought great, that was quick. The email states that when go back onto Kabbage, there will be some paperwork to sign. Over the course of the day, I read some reviews, and everyone's experience with Kabbage was different. Some people getting separate emails before an approval. Thankfully, I sent a DM to Kabbage on Twitter. He told me that because I had to manually add my checking account, and I had not confirmed the micro-deposits, THAT is why I could not see the loan docs. And it makes a lot of sense if you read the reviews, they should really change what the approval emIl says, letting us know that it's OK if the loan docs aren't showing up if your bank account isn't confirmed.

So I woke up at just about 5am this morning, checked my bank and saw the deposits! Logged into Kabbage, confirmed the account! It then brought me to the loan docs to sign, it did take two separate tries using the DocuSign, but it worked! As soon as I signed my dashboard updated to Congratulations, we have deposited $** to your bank account ending in **. That was all done just before 5am. I think I may have the money in my account TODAY. If not I am sure I will see it Monday :-(. I am sorry lot of people seem to be having trouble, but I must have just been one of the lucky ones!! 5 Stars all around from me!! So grateful!

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 12, 2020

How is there not a class action suit already? I had a line of credit for years. Always paid on time, and paid off several times. Like many others, had my account frozen. Since pandemic, skipped one month, and have been making (scraping actually) weekly payments just to satisfy and show good faith. Learned those weekly payments are barely denting my balance, and also found my balance has increased over what I owed when line was frozen.

First rep I tried to negotiate with was obnoxious, rude, pressuring, and would cut me off when I spoke. Even said to me, "your industry should be doing really well right now". Wow! I feel that they are charging these blood sucking fees so that they can get healthy again, while sticking it to their loyal customers. There is nothing understanding, compassionate, or compromising with these folks at all. I lose sleep at night dealing with this because I fear losing everything just trying to pay them. I'm afraid of losing my high credit rating by not going along with their "forced terms". How can they treat people this way? I feel as though I've stepped into an episode of The "Godfather, Goodfellas, or Scarface". Don't do business with them. They need to go out of business.

22 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 12, 2020

I was told I was approved and they never got back with the needed documents to be signed. After getting finally getting in touch with them after multiple phone calls daily I was then told it was an engineering problem. That I would be contacted the following Monday. Never heard a word back by phone or email. Finally on my Kabbage reader board they said my time had expired to accept the loan. Apparently SBA gives you 20 days to have required documents signed and returned (a fact they should know and inform their clients). I was then told on the reader board that I'd have to reapply and after a week I was denied. Customer service was outrageous if not nonexistent. I should have known not to use Kabbage when I signed up for their lines of credit with outrageous interest rates. Highly recommend you stay away.

35 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 10, 2020

I filled out all the required forms and received an email that I needed to upload another document to proceed with approval. The document upload page is not accessible after the application has been submitted. There is no phone support, no reply to emails to customer support. The other reviews posted refer to names the applicants worked with and what a great experience they had. This is the complete opposite of my experience. I'm applying for a PPP loan to survive the pandemic, and Kabbage has been completely unresponsive. Looking for other lenders.

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

We chose Kabbage to apply for the PPP program through the SBA and was approved for a loan. After approval there is a 10 day period that Kabbage has to deposit the funds into your bank account. The account they tried to make a deposit in was closed. So they required us to open a checking account and have a letter from the Bank with the Bank letterhead - My name - account and routing numbers - the bank's physical address and a signature by one of the bank's reps along with my signature. So we submit the Bank document and they connect the account to Kabbage but fail to make the deposit of the funds we were approved for. We have called and called only to have their automated system tell us our time on the queue has expired and hangs up. We have sent email after email after email with no response.

Then we finally get a response saying that the Regions Now account doesn't have the info they asked for. Well of course it doesn't! But had they taken the time to read our email further they would have noticed that the document with the proper info and regular checking account document was included in the first email. We actually opened 2 accounts with Regions Bank. One being a Regions Now account and the other account a regular checking account. We had previously signed the loan agreement agreeing to the terms and conditions of the loan and have been awaiting the deposit of funds we so critically need. If they do not deposit the funds we were approved for within the next day or two. They will have forced us to close up shop indefinitely. Thanks Kabbage!

30 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 3, 2020

Their process is actually pretty simple and I like the fact that you get a line of credit so you can use what you need, when you need it. However, their customer service is the worse. If you ever have an issue do NOT expect to speak with someone. You will not get anyone on the phone, they will not return your phone calls and they will not respond to emails. It simply amazes me that a company like this has such poor customer service.

Be the first one to find this review helpful
Rated with 1 star
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Verified Reviewer
Original review: July 2, 2020

I was approved for my PPP loan on June 24TH. They stated that I must take the loan within 10 days of approval, or they would withdraw their guarantee of available funds. The only thing I had to do was sign the documents. Simple Right?? NO apparently not with them! They never sent me the documents to sign, so I then called and emailed for days; with no response. I logged into my account yesterday to check on status of loan and read that my application couldn’t be submitted before deadline.? What happen to my loan approval being guaranteed for 10 days?? Now I’m left with no funding for my business. I would’ve applied with other lenders had I’ve known that their guarantee meant nothing.

32 people found this review helpful
Rated with 3 stars
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Verified Reviewer
Original review: July 1, 2020

I applied for my business late Saturday. Woke up to an approval Sunday morning. Panicked when I saw no link to the docs to sign. Tweeted at them. Got a reply within an hour or two. Verified their micro deposit then #bam# the link to the docs was there. However yesterday they emailed stating I had to provide a brick and mortar bank. Caused me to scramble a bit but ultimately it worked out. Now I'm just waiting for the funds to post. They say 5-10 days.

22 people found this review helpful
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Kabbage Company Information

Company Name:
Kabbage
Address:
730 Peachtree Street Suite 350
City:
Atlanta
State/Province:
GA
Postal Code:
30308
Country:
United States
Website:
www.kabbage.com