Kabbage from American Express launched Kabbage Funding
in December 2021. With the backing of American Express, Kabbage is able to offer a broader set of cash flow management tools to small businesses.
Business owners can apply for business lines of credit through Kabbage between $2,000 and $250,000. Repayment terms range from six to 18 months.
Line of credit customers incur a loan fee for each month they have an outstanding balance. Total monthly fees incurred over the loan term range from 2% to 9% for six-month loans, 7.5% to 18% for 12-month loans and 15.75% to 27% for 18-month loans.
In addition to its line of credit, Kabbage provides other tools beneficial to small business owners, including its own mobile app that provides comprehensive cash flow insights.
Eligibility: To be eligible for financing through Kabbage, applicants must have a minimum personal credit score of 640, have been in business for at least one year and have a valid business checking account. There is a minimum monthly revenue requirement of $3,000.
Funding time: Once you complete your loan application and sign the loan agreement, funds are sent to your verified bank account. Funds can take up to three business days to appear in your account, depending on your bank.
*Become a Kabbage Funding customer and you may be eligible to earn $250. Here’s how:
1. Apply and get approved for a Kabbage Funding line of credit between 11/21/2022 and 2/28/2023 at 11:59pm ET.
2. After you are approved and you add and verify your Funding primary account on or before 2/28/2023, $250 will be deposited into the verified account.
Terms and Conditions
This offer is provided by Kabbage from American Express (“we”, “us” or “our”). Kabbage Funding loans are issued by American Express National Bank (AENB). To be eligible to earn the $250 associated with this offer, you must 1) apply and be approved for a Kabbage Funding line of credit between 11/21/2022 and 2/28/2023 at 11:59pm ET and 2) add and verify your designated business bank account (hereafter defined as “Funding primary account”) on or before 2/28/2023 at 11:59pm ET. AENB will deposit $250 into the Funding primary account you’ve successfully linked to Kabbage Funding within 30 calendar days from the date the account is verified. Limit one offer per new Kabbage Funding account. This offer (i) is not available to existing Kabbage Funding customers, (ii) is non-transferable, and (iii) cannot be combined with any other offer except as permitted by American Express. We reserve the right to modify or revoke this offer at any time. You may not receive the offer, if we determine in our sole discretion that your account is not in good standing, has a disconnected bank account, and/or you have engaged in abuse, misuse, fraudulent activity, or gaming in connection with the offer in any way or that you intend to do so. We may also cancel your Kabbage Funding account and other accounts you may have with us. The offer may be taxable income to you and may be reported on IRS Form 1099. You are responsible for any federal or state taxes resulting from the offer. Please consult your tax advisor if you have questions about the tax treatment of the offer. If you have any questions regarding this offer, please call 1-888-986-8263 Monday – Friday 8 A.M. to 9 P.M. EST.
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