Looking for a loan that can assist you with your business? Kabbage is here to help. This company provides financial support to current business owners alike. If you belong to one of these categories and you need financial help. You might want to check out what this company has to offer.
Kabbage Online Business Loan Features and Benefits
With the commitment to aid entrepreneurs, this company offers the most manageable loans that are flexible, convenient and affordable.
To make paying your dues more convenient, you can set up an autopay system. This can be done by integrating your primary account to Kabbage and they will simply bill the payment amount automatically. If you wish to make a prepayment, you can make manual payments anytime. This can be done through the Kabbage App. This mobile application also allows you to withdraw and manage your accounts without much ease.
If you are looking for improved accessibility, this company also offers the Kabbage Card. This functions just like a credit card, which gives you access to your line of credit with just a swipe.
Getting a Kabbage Online Business Loan
Kabbage is named after a slang for money. This is why the company made it quite simple for business owners to get their loans. In applying for one, you just need to visit Kabbage website and signup. Present the documents necessary to determine your creditworthiness and eligibility. First, you need to be in business for at least a year. Your business should also be generating a minimum of $50,000 annual revenue or at least $4,200 per month for the past three months. Keep in mind that this is the minimum qualification and not a guarantee for a successful application.
Your loan amount can range from $2,000 to $250,000, which gives you a wide range of options to pick the amount that you need.
Kabbage Online Business Loan Fees and Charges
If you are worried about fees and charges, fret not because Kabbage offers competent prices. For one, they do not charge an application fee. With regards to payments, you will be glad to know that your repayment amount will depend on the fee rate and the loan term you choose. Rates can range from 1.5% to 10.0%, depending on the performance of your business.
Should you choose a 6-month loan term, your payments will be equally spread throughout the period. This gives better manageability as you will be paying a fixed amount every month. The same is true when you pick a 12-month loan term. Moreover, paying early gives you rewards. Aside from not being charged for prepayment penalties, you will be able to save on monthly fees by making early payments.
Establishing your business is just the first step. Keeping it afloat is another and you want to make sure that you get the right kind of help doing so. With a Kabbage Online Business Loan, you never have to worry about getting assistance that you need and can manage.