• Skip to primary navigation
  • Skip to main content
  • Skip to footer
WittySparks Logo White

WittySparks

Ignite Your Thoughts

  • Topics
  • Reviews
  • Subscribe
WittySparks / Business / Unlock Your Business With Small Business Loans
Looking for Small Business Loans?

Unlock Your Business With Small Business Loans

Business August 3, 2015 by Syeda Fatima

The number one issue of people who want to sustain their business is working capital. Loan sharks are not a solution, nor are banks. The complexities of running a business are wide and varied.

And all loans are based on your credibility; this is when Kabbage can be helpful. It’s the instant loan provider that can help you get money as often as every day! So how does it work?

Most businesses fail within the first 2 years, and sometimes if the product or service is very good, and there seems to be a great future ahead for the business, the low return on investment and cash flow makes it difficult for business owners to sustain it just long enough, and applying for a loan in such a situation not only possess to be cumbersome but is all dependent on your credits, something that is weak anyway. This is what Kabbage focuses on; providing cash flow based on a variety of business data, not just credit score.

You have to simply sign up for free on their website, link your account to your business account. After you’ve signed up, Kabbage approves your business as eligible for a loan and also informs you of the loan limit. The range can be anywhere from USD 2000 to 100,000, depending on the business, and its scope.

You have to select the amount you want from the range, money can be taken as often as every 24 hours. As soon as you apply the money is transferred into your PayPal or Business checking account. Funds can be also taken from their app which is available for both Android and iOS, making it an even more practical venture.

How Kabbage Loans Work – Fast, flexible funding for your business:

The question is when there’s no fee, what is the payment plan? Kabbage provides a minimum 6-month plan, wherein the first two months you may have to pay 1-12% of the amount withdrawn and 1% for the remaining 4 months. The last four months’ payment can be made together in the 3rd month too.

The money that is borrowed can be used by the business person however they like; for example, procurement of inventory, hiring staff, marketing, etc. You have to be very wise when doing this, as on this basis will you be eligible for a bigger loan the next time or even be removed from the Kabbage plan.

There are some tricky bits here, basically, if their business fails to thrive, they have no other way to pay up, apart from digging into more loans elsewhere. You have to really believe in your business, and make sure you are doing well, while all start off with the intention to succeed, not all make it.

And so in the big picture, the customer of Kabbage is already a vulnerable candidate. Another interesting aspect of this service is that; money can be drawn several times a month depending on the limit you are provided with, and chances are that you may not remember how much of the limit you have covered.

It’s like having a bag of chips and just eating because it’s in front of you, you don’t realize how much of it is over till you peep into it. Similarly, you may not realize that while your intention was to only use 5000 of your 10000 limits, you ended up taking 8000, and now have to pay a big percentage on that 8000.

You would have to be very organized and calculative, as your eligibility for the next loan depends on how well your business has done, as they don’t focus on credit score, the functioning of the business, the flow of cash all has to be stable.

Kabbage is a unique service for passionate people with innovative ideas, who are organized and understand money responsibility well. Practical features make this Kabbage a very user-friendly and dynamic service, presently it is available for users in the USA and UK only.

Image Source: BigStock

Appreciate your opinion on this topic on social media by tagging us @wittysparks
  • LinkedIn
  • Twitter
  • Like
  • Pinterest

Related Topics

  • I Need Equipment Loans for My Photography Business
  • How Can I Qualify For A Business Loan?
  • How Economic Health Affects Business Loans
Launch Offer
Rocket.net - Managed WordPress hosting
Rocket.net - Managed WordPress hosting
$1 for first month, $25/month

A highly secured WordPress hosting platform powered by Cloudflare enterprises with customized services for agencies, eCommerce, and small businesses.

  • PageSpeed Guarantee
  • Ultra Secure Platform
  • FREE Migrations
  • Automatic Updates
Try for $1.00 Our Review
We earn a commission if you make a purchase, at no additional cost to you.

Our Favorite Tools

Semrush - SEO and Marketing Tools
Semrush - SEO and Marketing Tools
$119.95/mo
Try for FREE Our Review
Semrush - SEO and Marketing Tools
Lasso - All-in-one Affiliate Marketing Plugin for WordPress
$29/month
Start Free Trial Our Review
Semrush - SEO and Marketing Tools
Grammarly - AI-powered writing assistant
$12.00 / month
Try for FREE Our Review
Previous Post: « ChromeOS and Other Cloud Operating Systems
Next Post: 2015 Q2 DDoS Threat Landscape Report »
Profile picture for Syeda Fatima

About Syeda Fatima

Hello!, I am a freelance blogger, with a great sense of humor and love for all things creative. Follow my posts to get a taste of my insights in the field of education and business. Comment, share, like and spread the love.

View all posts by Syeda Fatima
  • Twitter

Footer

Search

Exclusive Coupons

  • Moqups Review - Use coupon code “WITTYSPARKS" for 20% off or "PARTNERS50" for 50% discount on all plans.
  • Serpstat Review - Use coupon code "wittysparks_discount" for 30% off.
  • WPForms Review - Use coupon code "WITTYSPARKS" for 50% off.
  • WPPayForm Review - Use coupon code "wittysparks" for 10% to 40% off.

Affiliate Disclosure

If you make a purchase from WittySparks links, we will receive a small commission. See our Affiliate Disclosure.

Sponsors

Partnered with FreePik to use the licensed images.

turn to dhgate for smartphone

Follow Us

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn
  • Instagram
  • YouTube
  • RSS

Copyright © 2022 · Hosting sponsored by Rocket.net (Affiliate link)

  • About Us
  • Contact Us
  • Privacy Policy
  • Affiliate Disclosure