Kabbage Business Loan Calculator

Kabbage offers financing that is different from a loan. They offer a line of credit, which ranges from $2000 to $100,000. These lines of credit also easy and fast to qualify for. Qualification is done in minutes by looking at your business’ online services such as PayPal, Square and Quickbooks.

A business line of credit is similar to a credit card. When you draw on your line of credit, you basically withdrawal cash. This money can be used for any business purpose such as cash flow shortages, capital expenditures, unexpected expenses and many other business related expenditures. Check with the lender to be sure your expenditure qualifies.

What Happens When You Get A Kabbage Business Loan?

To qualify for a Kabbage line of credit, your business needs to have been in operation for at least one year. Revenues also need to be at least $50,000 a year.

If you don’t use the credit line, you aren’t charged. You’re only charged for the amount you use. Kabbage doesn’t charge interest. Instead, a monthly fee of 5% to 12% is incurred on the drawn amount and only in the beginning months. Months thereafter incur a 1% fee. Your monthly payment is the same each month with most fees going into the first few payments. Because this is basically a short-term loan, it is more expensive than traditional loans.

You’re also be rewarded for paying your Kabbage credit line early. Additionally, there is a restriction that you can draw on the line of credit only one a day.