Kabbage - Business Lending

4 Replies

Since creating an LLC, I have been receiving emails from Kabbage. I don't think real estate is their normal business (they may think I own a brick-and-mortar store). Has anyone tried using this lending company?

I keep receiving from them as well. I'd be interested to see if anyone had used them and stumbles upon this post to report in about them.  After reading their website it looks like they have some requirements, but they aren't crazy outrageous.  

My biz Just got approved for a $125k line of credit thru Kabbage. 16.5% over 12 months. No origination fees. For the volume of flips we are doing it makes sense to use them. Not sure who told you they don’t lend to REIs. I told them we flipped houses. They saw our numbers and approved us on the spot. Am I the first one on this site to pull the trigger?

Originally posted by @Kevin O'Donnell :

My biz Just got approved for a $125k line of credit thru Kabbage. 16.5% over 12 months. No origination fees. For the volume of flips we are doing it makes sense to use them. Not sure who told you they don’t lend to REIs. I told them we flipped houses. They saw our numbers and approved us on the spot. Am I the first one on this site to pull the trigger?

 That’s way too expensive IMO. I looked into them and their rates are too unreasonable. I have multiple LOCs through banks. Rates vary from 5.5-8.5% unsecured