Kabbage loans, when it comes to seeking liquidity, there are many alternatives that can be presented to youHowever, it is necessary to understand that the application for a loan may imply different collections, as well as long waiting times.
However, in the case of Kabbage, you don’t have to worry, this is an excellent option for small merchants, or for parents who need to pay off debts promptly, make investments, or start businesses. Do you dare to know what it is about? So, she continues reading.
What are Kabbage Loans about?
In case you had not heard this name before, we point out that Kabbageis an online loan and credit platform that is granted to SMEs, the same account with the support of American Express.
Who are Kabbage loans for?
As As we pointed out to you in previous lines, this credit network is ideal for both small and medium-sized merchants, However, there are some profiles that can help you apply more quickly for them, which are:
1. For those who do not have large structures and therefore do not have a credit history to support them. Based on this, the platform requests the company’s bank statements, if there are records on ecommerce platforms, these are also required.
As it is also possible that at the request of the operator, it is necessary to show the accounting statements and books, to support at least the existence of some liquidity that serves as guarantee and support.
2. For those incipient businesses, but which have a good structure and deserve an initial investment to undertake. In this case, the company evaluates the papers, and can grant the credit quicklyand thus be able to transfer the money in a matter of hours or days.
3. For those who want a credit whose rates can be paid in short periods of time. This translates not only into the intention of having liquidity quickly, but also the desire not to put off a large loan with high interest.
In this sense, we point out that Kabbage has payment terms of at least 6 months for you and a maximum of 18 months to cancel the total debt.
Operating conditions of the Kabbage platform
Regarding the operation of said Kabbage platform itself, we are going to point out its way of proceeding:
1. Once they evaluate the precautions that are part of your applicationthey place at your disposal credits that range between 1,000 and 150,000 dollars.
2. The paid credit payment fee can be between 0.25 and 3.5%, of course, Said amount will depend on the total value that is transferred to you due to the credit.
3. It should be noted that the company only accrues, the refund of the money with their respective interestsbut it does not charge for account maintenance, nor does it request money for the issuance of the credit.
4. If you need an additional transfer, no additional fees will accrueThis means that due to the advance payment of credits, it does not cause you extra interest.
5. Regarding the transfer of money, it is common for it to be transferred to the borrower’s account the same day, or in the worst case, the transfer of money can take up to 3 days.
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