Business Line of Credit – All Credit Scores Welcome!

Business line of credit for any credit score.

Apply online, get approved and have funds by the next business day.

Featured Line of Credit

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Featured Line of Credit

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Line of Credit up to $250,000

No minimum credit score required

Kabbage does not have a specific credit score requirement. Kabbage is a direct lender offering a business line of credit for poor credit from $500 to $250,000. Lines lines of credit can be used for any business need.

What do you need to qualify

To qualify at Kabbage, applicants need minimum annual revenue of $50,000 or have a revenue of $4,200 that last 3 months. Kabbage is a good choice if you have low credit scores.

Repayment period

Kabbage offers repayment terms of six or 12 months with a particular fee structure based on which repayment term you choose. For example: Each month, you pay back a percentage of the amount borrowed — the principal — plus a fee.

For a six-month term, you’ll pay a fee of 1.5% to 10% of the total amount you borrowed for the first two months, then 1% for the remaining months. The structure is similar for a 12-month term: You’ll pay 1.5% to 10% for the first six months of your loan, then 1% each month after.

Application Process

The application process is completed online. Kabbage will ask for information about you and your business. You will also have to give the lender read-only access to your business bank account and any other data channels you use (such as Amazon, PayPal, and QuickBooks). Kabbage uses the information provided to determine your monthly fee and maximum credit line.

Estimated funding time

Using an automated lending platform, Kabbage has a quick application process. You can pre-qualify you in minutes. Kabbage typically approves borrowers within 24 hours and deposits loans by the next business day.

No pre-payment fee

Kabbage does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

APR

Kabbage offers a fixed APR that ranges from 24% to 99% APR.

Kabbage Details

  • Easy application process

  • Fast funding—apply today; receive money in your account by the next business day

  • No minimum credit score; borrowers with poor credit can qualify

  • Repayment terms up to 12 months

  • No collateral necessary

  • No hidden fees

  • No prepayment penalties

  • Good customer service

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Best features of Kabbage business line of credit

The number-one reason to open a business line of credit is to gain access to short-term funding. Kabbage meets that need. Funds can be used to support your business like purchasing supplies, equipment, inventory or making payroll. Funds can be easily drawn by using the Kabbage card.

Drawbacks of Kabbage business line of credit

Kabbage’s fees can get expensive. It’s not the cheapest small business line of credit. But, it offers a financial safety net for small business owners that cannot qualify for traditional bank business loans. Once you get into their system, Kabbage capital is always there if and when you need it.

5 Simple Steps to a Kabbage business line of credit

business-line-off-creditYou can get a Kabbage business line of credit in minutes. There is no long, drawn-out process like with traditional banks. This makes Kabbage far more attractive.

  • Submit basic business information. Your company name, ownership structure (whether it’s a sole proprietorship, partnership or a limited liability corporation), business’s address and date business was established.

  • Enter financials for review. Select the bank or payment service you use to process your business transactions. Start with the services you use to transfer the most revenue. The more revenue you can prove, the higher your line of credit will be. For example: connect your bank information and other business services such as Intuit QuickBooks, eBay, Amazon, PayPal, Xero and Stripe to give Kabbage the best picture of your business performance.

  • Personal Information. Provide your full name, address, phone number, and Social Security Number. Kabbage uses this to confirm your identity and to perform a soft pull on your credit.

  • Check Your Line Of Credit. Kabbage provides a credit decision on the spot. If you are successful, you will get to see how much cash you have available in your line of credit.

  • Select Term And Rates. You can withdraw money from your line of credit up to once a day. Choose what term you want (6 or 12 months), and where you would like the funds transferred. The length of the loan will affect the APR of the loan.

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Business Line of Credit up to $250,000

business-credit-card-bad-credit

No minimum credit score required

Kabbage does not have a specific credit score requirement. Kabbage is a direct lender offering a business line of credit for poor credit from $500 to $250,000. Lines lines of credit can be used for any business need.

What do you need to qualify

To qualify at Kabbage, applicants need minimum annual revenue of $50,000 or have a revenue of $4,200 that last 3 months. Kabbage is a good choice if you have low credit scores.

Repayment period

Kabbage offers repayment terms of six or 12 months with a particular fee structure based on which repayment term you choose. For example: Each month, you pay back a percentage of the amount borrowed — the principal — plus a fee.

For a six-month term, you’ll pay a fee of 1.5% to 10% of the total amount you borrowed for the first two months, then 1% for the remaining months. The structure is similar for a 12-month term: You’ll pay 1.5% to 10% for the first six months of your loan, then 1% each month after.

Application Process

The application process is completed online. Kabbage will ask for information about you and your business. You will also have to give the lender read-only access to your business bank account and any other data channels you use (such as Amazon, PayPal, and QuickBooks). Kabbage uses the information provided to determine your monthly fee and maximum credit line.

Estimated funding time

Using an automated lending platform, Kabbage has a quick application process. You can pre-qualify you in minutes. Kabbage typically approves borrowers within 24 hours and deposits loans by the next business day.

No pre-payment fee

Kabbage does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

APR

Kabbage offers a fixed APR that ranges from 24% to 99% APR.

Kabbage Details

  • Easy application process

  • Fast funding—apply today; receive money in your account by the next business day

  • No minimum credit score; borrowers with poor credit can qualify

  • Repayment terms up to 12 months

  • No collateral necessary

  • No hidden fees

  • No prepayment penalties

  • Good customer service

[us_btn text=”Get your Kabbage Card Today!” link=”url:https%3A%2F%2Frebuildcreditscores.com%2FKabbage||target:%20_blank|” size=”16px”]

Best features of Kabbage business line of credit

The number-one reason to open a business line of credit is to gain access to short-term funding. Kabbage meets that need. Funds can be used to support your business like purchasing supplies, equipment, inventory or making payroll. Funds can be easily drawn by using the Kabbage card.

Drawbacks of Kabbage business line of credit

business-line-off-credit

Kabbage’s fees can get expensive. It’s not the cheapest small business line of credit. But, it offers a financial safety net for small business owners that cannot qualify for traditional bank business loans. Once you get into their system, Kabbage capital is always there if and when you need it.

5 Simple Steps to a Kabbage business line of credit

You can get a Kabbage business line of credit in minutes. There is no long, drawn-out process like with traditional banks. This makes Kabbage far more attractive.

  • Submit basic business information. Your company name, ownership structure (whether it’s a sole proprietorship, partnership or a limited liability corporation), business’s address and date business was established.
  • Enter financials for review. Select the bank or payment service you use to process your business transactions. Start with the services you use to transfer the most revenue. The more revenue you can prove, the higher your line of credit will be. For example: connect your bank information and other business services such as Intuit QuickBooks, eBay, Amazon, PayPal, Xero and Stripe to give Kabbage the best picture of your business performance.
  • Personal Information. Provide your full name, address, phone number, and Social Security Number. Kabbage uses this to confirm your identity and to perform a soft pull on your credit.
  • Check Your Line Of Credit. Kabbage provides a credit decision on the spot. If you are successful, you will get to see how much cash you have available in your line of credit.
  • Select Term And Rates. You can withdraw money from your line of credit up to once a day. Choose what term you want (6 or 12 months), and where you would like the funds transferred. The length of the loan will affect the APR of the loan.
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