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How Kabbage Loans Work
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About Us

  • What is Kabbage?

    Kabbage is a technology company that quickly connects small businesses with capital. Our technology platform reviews data generated by dozens of business operations to automatically understand business performance and deliver fast, flexible funding entirely online.

  • Why do small businesses use Kabbage?

    When polled, most business owners shared that access to capital is the single biggest roadblock to growing their businesses. With more cash flow, these businesses can hire new employees, purchase more inventory, upgrade equipment and boost their marketing efforts.

  • How did Kabbage get its name?

    After running through hundreds of possible names – including "Paygosaurus," a friendly dinosaur that gives you money – we landed on "cabbage," which is slang for money. We took a little creative license with the spelling, and the rest is history.

  • Who created the company?

    CEO Rob Frohwein, Chairman Marc Gorlin and COO Kathryn Petralia co-founded Kabbage in 2009 to provide small businesses with funding quickly – an area previously underserved by other lenders. Prior to founding Kabbage, Frohwein was the CEO of LAVA Group, an intellectual property and technology investment bank. Marc Gorlin is a seasoned entrepreneur who co-founded companies including Pretty Good Privacy (PGP) and VerticalOne Corporation. With fifteen years in the credit and payments industry, Kathryn Petralia previously served in executive positions at CompuCredit and Revolution Money where she was Vice President of Strategy. Kabbage is venture funded and backed by leading investors including Reverence Capital Partners, SoftBank Capital, Thomvest Ventures, Mohr Davidow Ventures, BlueRun Ventures, the UPS Strategic Enterprise Fund, ING, Santander InnoVentures, Scotiabank, and TCW/Craton.

  • How can I contact Kabbage?

    You can email us at support@kabbage.com; call us at 888-986-8263; or connect with us on Facebook, Twitter, Instagram or LinkedIn.

  • Is Kabbage a lender?

    Kabbage is not a lender. We're a technology company that created a simple way to review and decision applicants quickly for funding.

Applying

  • How do I apply?

    Applying is quick and easy and typically takes less than 10 minutes. We ask for basic information about you and your business. Securely connect your bank information so we can assess your business without long forms, waiting in line or having to dig up old paperwork. You also can connect other business services such as Intuit QuickBooks, eBay, Amazon, PayPal, Xero and Stripe to give us the best picture of your business performance. Once we review your application, we may ask you to submit additional information to potentially qualify you for an increased line of credit of up to $250,000

  • Who is eligible for funding through Kabbage?

    All small businesses can apply for funds through Kabbage. To qualify, your business needs to be at least one year old. You should have revenues of $50,000 annually or $4,200 per month over the last three months.¹

  • Who funds my loan?

    Your loan is issued and funded by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC.

  • Do you check my credit?

    Yes, we pull a credit report for the owner of the business.

  • What information and verification do you need from my business?

    We verify your business using your business checking account and the other business services you connect. Our short application also collects information such as your name, business name, home and business address, business tax ID and social security number.

  • How long does it take to be approved?

    The application and approval process takes only minutes.¹

  • How quickly can I get my funds?

    Once a loan is requested and the loan agreement is signed, funds are sent to the account of your choice. Loans deposited into your PayPal account take just a few minutes to process. Loans deposited into your business checking account take 0-3 days to process, depending upon your bank. If you withdraw funds using the Kabbage Card, your loan is issued immediately for the exact amount of the transaction.

  • Can I reapply if I'm not qualified?

    Your Kabbage® account allows us to continuously evaluate your latest business information, so there is no need to reapply. We will continue to review your information and will let you know if you qualify for funds in the future. If you ever have questions about your application, call us at 888-986-8263.

  • How do you determine how much funding I can use?

    We review your business information through data sources like your business checking account, payment processors, accounting platforms and other online marketplaces. This helps us determine the financial performance of your business by analyzing your average monthly revenue, seller rating, time in business, transaction volume, among other characteristics.

  • How do you use the information I link?

    Reviewing the services you use and the corresponding data gives us a full picture of your business in real time without requiring you to submit paperwork. Link your business services once, and your account will remain connected to Kabbage. This helps us understand your business not just at the time of qualification, but also on an ongoing basis so you don't have to reapply or reenter your information. When you add additional data sources in the future, we'll use this data at the time it's added and every point thereafter. Our persistent data connectivity keeps you eligible for offers in the future and ensures you have the right amount of funding at the right time based on your latest business performance.

  • How can I increase my chances of qualifying?

    Kabbage looks at your business revenue to determine how much funding you can access. The more revenue you're able to show, the better chance you have of qualifying. Make sure you link services that contain the majority of your business revenue transactions to improve your likelihood of qualification or access to additional funds.

  • Do I need internet access to manage my Kabbage account?

    Yes, you will need access to the internet and can manage your account from any mobile device using our mobile app. You also can withdraw funds using the Kabbage Card anywhere VISA is accepted.

  • In which countries is Kabbage available?

    Kabbage is currently available in all 50 U.S. States and territories. We also power automated lending for partnering organizations around the world.

  • If I own multiple businesses, can I open multiple Kabbage accounts?

    Each applicant can only have one Kabbage account. However, you can link as many business services (e.g., bank accounts for multiple businesses) as you'd like to Kabbage.

Loans

Fees

  • Is there fee to apply for a line of credit?

    Absolutely not! There's no separate charge to apply for a line, open an account or even save funds for which you qualified until you need them. Pay only for what you take.

  • What fees are charged for taking a loan?

    There is one simple monthly fee to take a Kabbage® loan. This fee helps recover costs associated with processing and underwriting your application. There are no origination fees, annual fees, monthly maintenance fees, documentation fees, or other hidden fees.

  • How is the monthly fee calculated?

    Kabbage loans have a monthly fee for every month you have a balance. Every month, you'll pay back 1/6 of the total loan amount (for 6-month loans) or 1/12 of the loan amount for (12-month loans) plus a monthly fee.

  • Are there any prepayment penalty fees?

    No, Kabbage® loans do not have prepayment penalty fees. In fact, the faster you pay off your loan, the more money you'll save by avoiding fees.3

  • How can I reduce the number of fees I incur?

    Kabbage® loans incur fees each month you have an outstanding balance.3 Fees will be posted to your account each month on the anniversary date of when you took the loan. ¹Fees will appear on the first statement after they are posted and are always due on the payment due date for the month in which they are included on your statement. You may reduce the number of fees incurred by paying more than your monthly minimum due. Please note that if you have multiple loans and pay more than your minimum amount, the excess will go towards the oldest outstanding loan first. Instead of giving you a discounted price on future fees like a lot of other lenders, once a loan has a $0 balance, you will cease to incur monthly fees on that particular loan.

  • Why did a loan charge post to my account?

    Under your Transaction History, you will see loan charges post to your account. Loan charges, also known as monthly fees, are charged every month you have an outstanding loan balance.3 Fees will be posted to your account each month on the anniversary date of when you took the loan. ¹Fees will appear on the first statement after they are posted and are always due on the payment due date for the month in which they are included on your statement.

  • What fees will I incur if my payment is late?

    If you're late on a payment, a late fee will be applied. There is a four-day grace period before the late fee is applied. Late fees vary as follows based on the outstanding account balance:

    Balance DueLate Fee
    Less than $100$10
    $100 - 5,000$35
    Greater than $5,000$100

  • Does every loan I take have fees?

    Yes. Each loan is an independent 6 or 12-month installment loan with its own loan agreement and fees.

  • What is the difference between a monthly fee rate and an APR?

    Your monthly fee rate determines the amount of fees you will be charged on your loan. Kabbage® loans have a monthly fee for every month you have a balance.3
    A traditional APR is the amount of interest on your total loan amount that you'll pay annually. Kabbage® loans do not operate off a traditional APR. Rather, we charge a monthly fee incurred for the duration of the loan. There is no penalty for early payback. Kabbage loans give a 100% payback benefit, meaning Kabbage® loans forgive all remaining interest expense regardless of time left to maturity. While reviewing loans based on APR is a method of comparison widely used across financial services, it's important to take into account the intended purpose of loans and the returns they provide. Your Kabbage® loan agreement will disclose both your monthly fees and the APR.

  • Why did my available funds decrease after I took a Kabbage® loan?

    Your available funds are the difference between your qualified line amount and your balance. Drawing on your line or incurring your monthly fee will decrease your available cash. Conversely, the funds used to make a payment to Kabbage are added back to your available cash amount. If you make a payment via your bank account, the amount will be available seven calendar days after the payment is made. Direct payments via PayPal, will be available in your Kabbage funds right away. And, any payments made via eCheck will take 10 calendar days to return into your Kabbage available funds.

  • Are there any additional fees to use the Kabbage Card?

    No, there are no additional fees to get or use the Kabbage Card.

Payments

  • What is my primary payment account?

    Your primary payment account is the account where funds are sent to and where payments are withdrawn¹. You may have multiple bank accounts on file; however, you can only have one primary payment account.

  • How do I change my primary account?

    For your security, the first payment account you link during your application is set as your primary payment account. This is where funds are deposited and where automatic payments are withdrawn¹. If you would like to change the account where funds are deposited, contact us at 888-986-8263 before you withdraw funds.

  • How do loan payments work?

    Kabbage simplifies your payments by automatically withdrawing your minimum payment from your primary account each month¹. You also can make manual payments toward your balance at any time.

  • What is Autopay?

    Autopay is the process we use to automatically withdraw your minimum monthly payment each month on your due date. You agree to allow us to automatically withdraw your payment each month when you accept your loan agreement¹. You can view when your payment will be drawn on your Dashboard.

  • When does Autopay run?

    Autopay runs seven days a week. With ACH payments, if your due date falls on a weekend, the payment will post to your Kabbage account on your due date, but will not be processed by the bank until the next business day. Paypal payments will be processed when they are posted to your Kabbage account. If your payment is posted to your Kabbage account by your due date, no late fees will occur.

  • If I make my payment early, will auto pay still run?

    If you satisfy your minimum monthly payment in full before your due date, autopay won't run that month.

  • How is my payment amount determined?

    Kabbage® loans have a monthly fee for every month you have a balance.3 Every month, you'll pay back 1/6 of the total loan amount (for 6-month loans) or 1/12 of the loan amount (for 12-month loans) plus the monthly fee. If you have multiple loans out, the minimum due for each loan will be combined into one payment. Your payment schedule is available on your Dashboard.

  • Where can I review my payments?

    Visit your dashboard. You can review your upcoming payments, historical payments and preview potential payments for any new loans you may take.

  • How can I make an early payment?

    To make a payment before your due date, visit your dashboard. Here, you can select the payment account and amount. If you satisfy your monthly payment in full, then nothing will be withdrawn automatically on your due date. If you make a partial payment, then we will withdraw the remaining amount due on your due date.

  • When does my payment post to my checking account?

    Payments will be withdrawn from your primary payment account 1-3 business days after the payment is made. The payment will be posted immediately to your Kabbage account. Your bank's posting schedule determines when your payment will be posted to your checking account.

  • How do payments impact my available funds?

    If you make a payment via your bank account, the amount will be available in your Kabbage account 7 calendar days after your scheduled due date or payment date. If you make a direct payment via PayPal, the amount you paid will be added to your available funds right away. And, any payments made via eCheck will take 10 calendar days to return into your Kabbage available funds.

  • What is the difference between having a PayPal account or a bank account as my primary payment account?

    Transfers to and from PayPal accounts occur within a few moments and are automatically reflected in your available funds. Transfers to and from bank accounts take 1-3 business days. Payments made from a bank account can take 7 calendar days to be reflected in your available funds.

  • What happens when I make an overpayment?

    If you make a payment in the 10 days between your last payment due date and your next statement (billing) date, the payment won't lower your next minimum monthly payment. Any payment that is more than the current monthly minimum due will be applied in the following order: First to any unbilled Late Fees, Returned Payment Fees or Debit Card Express Fees, to the extent applicable, then to your remaining principal balances in order, ordinarily beginning with the oldest loan first, then the second oldest loan and so on.

  • When I make a payment, how is it applied?

    If you make a payment while you have a minimum monthly amount due, your payment will be applied toward satisfying your minimum monthly payment. If you make a payment in the 10 days between your last payment due date and your next statement (billing) date the payment won't lower your next minimum monthly payment. Any payment that is more than the monthly minimum due, will be applied in the following order: First to any unbilled Late Fees, Returned Payment Fees or Debit Card Express Fees, to the extent applicable, then to your remaining principal balances in order, ordinarily beginning with the oldest loan first, then the second oldest loan and so on.

  • Where can I view my transaction history?

    A full history of your transactions can be found in your dashboard.

  • What is an eCheck?

    When you establish a PayPal account, you select a backup funding source to cover costs when amount requested is not in your PayPal account. If Paypal is your Primary Payment Account, Kabbage will attempt to automatically draw your minimum monthly due from your Paypal account on your due date. If the amount drawn is not at least 50% of the total amount due, then Paypal may issue an eCheck the following day to recover the remaining funds due. Your available Kabbage funds will reflect this payment within 10 calendar days. If the eCheck has not cleared by the end of the 10 days, there will be a hold to all of your available Kabbage funds until it clears or until the eCheck is cancelled and an alternate payment is made. eChecks can take up to 14 calendar days to clear, so keep an eye on your PayPal account to monitor the progress.

  • How is my payment due date determined?

    Your due date for loan payments will always be 21 days after your statement (billing) date. Payments on multiple loans will be bundled and are all due on the same date.

  • How do I change my payment due date?

    To adjust your payment due date, contact us at 888-986-8263.

  • My primary bank account shows up as "unauthorized" in my Kabbage dashboard. Will my payment still go through?

    It's possible for Kabbage to lose the connection with your bank account as a result of security changes or bank updates. This won't affect your ability to use that account to make payments or take loans, but it may affect your available line if left uncorrected for too long. If your bank account shows as "unauthorized" in the Kabbage dashboard, click the alert to reauthorize the account.

  • What if I need a few more days to make my payment?

    If you have issues making your payment, please contact us at 888-986-8263 before your due date. We'll work with you as much as possible to keep you in good standing.

  • What if I don't have enough money in my primary checking account to satisfy my minimum monthly payment?

    We will attempt to withdraw the amount due from your primary payment account on your due date. If you have funds available in a different bank account that is linked to your Kabbage account, you can make a manual payment before your due date to satisfy your minimum monthly due. If you have any issues making your payment, contact us at 888-986-8263 before your due date. We'll work with you as much as possible to make arrangements on your account to keep you in good standing.

  • What if I don't have enough money in my PayPal account to satisfy my minimum monthly payment?

    If Paypal is your Primary Payment Account, Kabbage will attempt to automatically draw your minimum monthly due from your Paypal account on your due date. If the amount drawn is not at least 50% of the total amount due, then Paypal may issue an eCheck may the following day to recover the remaining funds due. Your available Kabbage funds will reflect this payment within 10 calendar days. If the eCheck has not cleared by the end of the 10 days, there will be a hold to all of your available Kabbage funds until it clears or until the eCheck is cancelled and an alternate payment is made. eChecks can take up to 14 calendar days to clear, so keep an eye on your PayPal account to monitor the progress.

  • Can I restructure my loan payments?

    To discuss your loan payment structure, contact us at support@kabbage.com or 888-986-8263.

  • How do my payments work for the Kabbage Card?

    With the Kabbage Card, you're withdrawing a six-month loan with each use. Your payment structure is the same as your business's other six-month loans.

Security

  • How secure is my information?

    We take your security very seriously and follow the required information security practices to maintain the integrity of your information. We can never see or store bank/data source login information, and we have no access to save or change your bank account data. Kabbage customers have securely connected more than 1 million data sources to be automatically reviewed. We're A+ rated by the Better Business Bureau and are TRUSTe certified for our commitment to customer privacy. For more information, review the Security of Customer Information section of our Privacy Policy.

  • Why do you need my bank account information?

    We use your financial information to determine your eligibility for credit. We ask that you link this information online so we can assess your business performance quickly and in an automated fashion and save you from the hassle of having to prepare financial statements or digging up old paperwork.

  • Why do I have to verify my personal information when I call Kabbage?

    We take your security very seriously. We ask to you to verify your personal information so that we can ensure we are not sharing sensitive information with anyone but an authorized account holder.

  • Do you sell my information to third parties?

    We never sell your data to third parties. Your information is strictly used to help us best serve you.

  • How does the Kabbage credit check show up on my credit report?

    After obtaining your consent, we perform a one-time hard credit inquiry when you apply that appears as an inquiry on your credit report.

  • Where are you located?

    We are headquartered in Atlanta, GA with offices in New York, San Francisco and Bangalore, India.

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