Kabbage Business Loans: What You Must Know
Running a business and starting a business are not an easy task. You need a constant flow of cash and you need a good rate of success for that. But businesses and being a CEO do not take you to a millionaire’s wonderland. Instead, in the beginning the reality can be pretty harsh and you might be left to wonder how to support your business financially. One of your options includes Kabbage business loans. In this article we are going to be exploring one of the best business loans lenders in the market to make life easier for you.
Now Kabbage is your best option because it allows borrowers to get help according to their need. So, if you are a borrower who does not have a perfect personal credit, Kabbage business loans have their doors opened for you. Unlike various traditional companies and banks, Kabbage business loans do not focus more on information such as your accounting, baking, commerce and other data. So borrowers who apply for Kabbage business loans can have credit score equal or above 500. Then if you are a borrower who is in need of fast cash, Kabbage business loans come with online application option that you can complete in minutes. Then your application, specially for a line of credit, can be funded and approved in a few days. Moving on, if you are someone who would like to go for a short repayment period, Kabbage can help you out. The maximum loan amount you can get is $250,000 that you can pay back in a term between six to 12 months.
Kabbage Business Loans
The Kabbage business loans can range in between $2,000 to $250,000. The loan will have an APR range of 24% to 99% which is higher than the usual APR you can get. But since Kabbage is an online lender, the APR remains high. Your loan term can be in between 6 to 12 months. It can also be adjusted according to your application. You can get you funds in just a few minutes or several days depending on the sum of money you opted for.
Before you apply for Kabbage business loans, you should know that while the repayment period can be adjusted, it is fairly rare. That is one negative aspect of Kabbage business loans. If you are someone who has to borrow about $250,000, it can be hard to pay back the money in a short term especially with the additional APR.