KabbageReviews 307

I just read an online article in Forbes Kabbage PPP Small Business Loans. I got a good laugh that a respected media source like Forbes would feature a company such as Kabbage. Kabbage takes advantage of small business that hasn't been around long enough to establish credit or has a lower credit rating. Among the many negative aspects of Kabbage, the fixed-fee structure (meaning that early repayment does not save interest), non-transparency, monthly fees, and astronomical rates compared to other online lenders. Beware, this company is NOT a small business' friend.

Today I started at 8AM only to get the same thing a hold, and then an abrupt disconnection. They sent a generic letter stating what might be missing on my PPP loan application but did not specify what is missing for MY application. Nothing in the admin even mentions what they need or that there is an issue. 4 weeks. Time to cancel and reapply elsewhere before the June 30th deadline. PS - while writing this review, they were on hold, someone just answered. After my first sentence, I was then disconnected. Whoa!

I called several times for making a payment plan they charge my account all at one time and reactive the auto pay with out informing me, my restaurants was close during the Covid and I have a stay home order until June 8 and they took 4000 out of my account they don't care about your situation they think Covid it's your problem not theirs awful company awful customer service don't work with them I'll close my account ASAP after the Covid and stay of home order finish, they are not human

I am giving one star here only because it is not possible to give negative. I had fraudulent charges against my Kabbage card several months ago. We notified Kabbage and they took care of the charges and sent me a new card. We were pleased with the service at that point. A couple months later and the Kabbage card sits still attached to it's initial activation paperwork and I am notified of additional fraudulent charges. How can this be since the new card had never been used or even left my office. Upon calling Kabbage they told us that they would look into the charge and had refunded the amount to my loan. They also told us that our line of credit had been frozen since they were focusing all their efforts on the PPP program. Since then, they denied our claim for the fraudulent charge with no explanation, allowed an additional 5,000.00 to be charged (even though they stated our credit had been frozen) and will not respond to our concerns by email and you can't get through to them by phone. At this point I have had to place a stop payments with my bank to keep them from draining my business of funds and still have no response from Kabbage.

I applied for an SBA loan with Kabbage weeks ago. They verified a few things and then all went silent for weeks. I finally received an email a few days ago that they were having trouble verifying some information and to sign in to check for errors to correct on my documentation. The sign in led me to my Kabbage dashboard that does not allow for me to correct or update information. It would also not let me check my documents or upload any new ones. All of my colleagues who submitted their applications at the same time, with similar documentation to mine, have received their loans. I repeatedly call and am told that I have been in the cue too long and disconnected. I email the email they give you to contact and only receive back the same form letter. I am so frustrated and exasperated. The futility of this process has driven me to tears multiple times.

I applied for a ppp loan from Kabbage and was given the wrong amount. It's third grade math 2.5 x monthly payroll. I supplied my documents that verified what my monthly payroll and was shorted over 8000 dollars! I have reached out to my members of Congress to inform them of this unfair abuse of their clients. After reading many reviews they mishandled many small businesses applications. There was not a manner of contacting them by phone or email. They have left many with a lot of questions that need to be answered. It doesn't surprise me when I saw during the first allotted ppp loans went to publicly traded companies. What a scam.

I signed up with them accepting what was tantamount to their 70% apr after you factor in fees to establish business credit, pay to play as it were.
Was told from the door they reported to business credit agencies and nothing has been reported. Can't get the same answer from anyone.
Last person I spoke with said they didn't, and that was their policy, but then I said that was the whole reason I got the loan in the first place at that APR, she proceeded to double back and say well maybe they do, she didn't know, she was new. This is to say she was trying to BS me on the phone about something she didn't know. The same behavior displayed by the initial sales rep that talked me into the loan under false pretense, and the same behavior displayed by everyone there since trying to get this straight.
With COVID, I need every last bit of positive reporting. These guys would have gone a long way to have shown my track record. My EIDL declined due to a lack of reporting on my business. They are NOT here to help anyone. As for these PPP loans, considering how they justify charging what they do by not being a bank' how are they legally allowed to be involved with them, by not being a bank.
They will lie to you and take whatever they can from you and leave you without holding up their end of the deal. Period.

Before COVID-19, I was a satisfied customer, but they have been a disaster to deal with during this already stressful time. I have to call multiple times a day every single day to maybe get lucky to get someone on the phone. I've gotten a person twice in the last 6 weeks. I've emailed, I've left voicemails and have received ZERO communication.

Unlike other companies with whom I have loans who have me extensions until we are able to legally reopen, Kabbage gave me a 7 day extension and then went ahead and cleared out ALL my accounts that have ever been tied to this business.

I requested that my personal bank account be removed as I haven't worked since March 15th and need every penny for my family. Was told it would be done and guess what... they cleared out that account 2 days ago as well. After already clearing out my business account.

These are unauthorized payments. Period. As I've stated I have no income at the moment personally or on the business side. And I removed my personal bank account information so that they couldn't take my personal funds.

If you want to deal with a company who doesn't care about you in the middle of a crisis, go ahead and move forward. But if you want a company with a soul, move along.

I plan to never do business with them ever again. And will not be suggesting any of my other small business friends use them.

Horrible customer service. Need to sign loan documents and can't get it taken care off. I have called and emailed for days and no word back. On top of the fact that it took me 3 times to get them everything they needed, even though I was told each time I had submitted everything. In a time where the funds are needed, regarding the PPP loan and can't even get an answer back from them is ridiculous.
I have NEVER dealt with worse customer service in my life. Completely unacceptable!

I was approved for a PPP loan last week by Kabbage, but they have not deposited the micro deposits needed to approve my account and proceed with signing the loan documents. It has been over 3 business days and I have tried calling, DMing them on Twitter, messaging them on Facebook and emailing them but cannot even get so much as a single response. This is profoundly alarming; I have given a great deal of personal information to Kabbage. I have never dealt with a company where I couldn't so much as even reach a customer service agent when I had a problem. All I want is to be able to actually speak to someone to solve what should be a very simple problem!

I received an email on 4/17/2020 from Kabbage advising that my company, Nautilus Commercial Inc. was approved to receive the PPP loan in the amount of $25K. So I then logged onto Kabbage's website to take the next steps so my company could receive these funds. Kabbage needed me to verify our bank information so I completed that section and hit send. After that I just waited for it to go through but it seemed to be stuck and eventually timed out. For 6 days now I have been attempting to complete this on the Kabbage site but it continues to time out. I have called and left messages and sent emails but never received a response. This morning I received an email from Kabbage advising that if I don't complete the bank information this loan will no longer be available in 4 days. Is this some type of scam? We really need this money to help our company and am shocked at the lack of response from anyone there. Now we are stuck and am not sure what our next steps should be other than calling the SBA directly and report this company to the BBB.