Kabbage customer service assists businesses with access to working capital. Businesses apply by attaching their latest information to a simple online application. Next, the application is reviewed for performance. Lastly, qualifying businesses are awarded a line of credit of up to $250,000.
Upon calling, Kabbage customer service stated that you are required to have been in business for one year or more AND your business revenue is at least $50,000 per year or $4,200 per month for at least three months. However Kabbage customer service is quick to note that these are minimum qualification criteria and are not a guarantee of acceptance.
How do I make payments on my Kabbage Loan?
Setting up your Kabbage loan is free. According to Kabbage customer service you only pay loan fees on the funds you withdraw. Every month, you’ll pay back an equal portion of the loan principal plus the monthly loan fee. Kabbage 6 and 12-month loans have a monthly fee as long as you have a balance. With 18-month loans, you’ll owe a set fee regardless of if you repay the loan early.
How do I access my Kabbage Loan?
Access your Kabbage funds via mobile, desktop, or using the Kabbage Card anywhere Visa is accepted in the U.S. The Kabbage mobile app is free and lets you access your funds, make payments or manage your account at anytime. With the Kabbage Card, you can withdraw funds from your business’s available line of credit for the exact amount of the purchase.
How do businesses use their Kabbage Loan?
Kabbage customer service states that Kabbage loans were made for small businesses. They emphasized that no two small businesses are the same. Some businesses have use their line of credit for inventory, invest in equipment, upgrade technology, jump start a marketing campaign, manage payroll or manage cash flow.
Is their a limit to the loans I can access via my line of credit?
The short answer is, No. As long as funds are available, you can withdraw from the line of credit as many times as you’d like.
Where can you learn more?
Contact us here or call Kabbage Customer Service at 866-774-3154 Monday – Friday, 8AM – 9PM ET, and Saturday, 10AM – 2PM ET.