Kabbage
Kabbage ranks last on the list of best online business loans. Kabbage, a technology company founded in 2008, aims to provide cash flow to businesses of all sizes. While many online lenders specialize in small business lending, they believe Kabbage stands out due to its extensive selection of small business loan options as well as its additional features and benefits. Kabbage provides a variety of small business loans and credit line options, including both unsecured and secured options. You can also apply for loans tailored to specific industries such as trucking, pawn shops, and retail. Kabbage takes pride in its simple online application process and quick funding for those who are approved.
Kabbage loan amounts vary depending on the type of loan you apply for. Kabbage also provides up to $150,000 in business lines of credit and online loans ranging from $500 to $150,000. Other loan types may have higher loan limits. Depending on your needs, Kabbage Funding also offers repayment terms of six to twelve months. There are no hidden loan fees or prepayment penalties with Kabbage. You will be charged a monthly fee, but they will tell you up front.
Pros
- Transparent qualification requirements
- No application fees
- Multiple small business loan options available
- Access to a mobile app
- Business checking available
Cons
- You need to be in business for one year.
- You must have at least $4,200 in revenue each month (or $50,000 in annual revenue).
Rating: 4.2/5.0
Enroll here: supermoney.com/reviews/business-loan/kabbage-business-loan
