Do you have a business idea or simply want to sell products on Amazon or eBay but do not have enough capital for inventory and other expenses? Kabbage was created by some pretty smart people with one goal in mind, give small businesses the capital they need quickly and efficiently. They are one of the best places to apply for a small business cash advance. The pleasing thing about all of this is that the whole process takes about 7 minutes.
Our Kabbage review will give you some information about the process and tell you how it works.
How Does Kabbage Small Business Financing Work?
Basically, the process is very simple and does not take much of your time. Once you submit your application, they evaluate it and decide the amount you are eligible to receive. There are two factors that are considered when deciding on how much of a cash advance you will receive. First, they look at your average monthly revenue of your business. Second, your businesses social networking activities are evaluated – the more followers and likes you have, the higher the cash advance will be. Lastly, they determine your Kabbage score which is done internally and it takes account your total revenue, social networking activity, and among other factors.
How Much Can You Get?
Qualifying businesses can get anywhere between $500 to $40,000. Your actual cash advance will depend highly on your average monthly revenue, among other factors as mentioned earlier. Kabbage average cash advances are in the $18,000 range.
How Much Does it Cost?
All of their financing works on a 6 month cash advance schedule. Your cost will depend highly on your businesses monthly revenue along with the Kabbage score that they give you. Here is the breakdown of what you can expect each month for the 6 month period.
- Months 1 & 2 – You are charged anywhere between 2% to 10% of the actual advance plus 1/6 of your advance – the percent amount depends on your revenue and Kabbage score.
- Months 3-6 – You are charged 1% of the advance and 1/6 of your loan.
This can be a bit confusing for most people that is why the best thing to do is fill out their quick application and they will be in touch with you and answer all of your questions.
Why Choose Kabbage Financing
Kabbage funding separates itself from the rest by giving you a bunch of better options than its competition.
- Fast and flexible funding
- Access to funds within 24 hours
- Signing up is free and you do not have to accept the advance
- Safe and secure
- Perks that will save you money on a variety of services
Pros and Cons
✓Fast funding for your business
✓Advances of up to $40,000
✓Application process takes about 7 minutes
✓Flexible funding options
✗Cost and fees
Kabbage small business funding is a very good option for those needing capital quickly for their business. Most of the time, all businesses will be eligible for a cash advance. It is a quick and efficient way of buying inventory or paying for other business expenses. You no longer have to allow your business to suffer in sales due to low inventory or simply fall in debt and ruin your reputation.
Once again, when you complete the application and sign up for a free account with Kabbage, you have no obligation to accept the advance and you can deny it anytime.