As a small business, if you are looking for a business loan, Kabbage will surely pop up in your search, but there are some other small business lenders you can use. Kabbage is one of the biggest small business lenders that any small business owner will use for taking loans. But actually, there are lots of lenders you can.
One thing is finding them and another is choosing the one that’s best for you. Kabbage Competitors are the top alternatives to the service that you can use for making your loans simply. And in this article today, I will be listing out some of the best alternatives or competitors instead to use.
As I said above, there are lots of competitors of Kabbage that you will come across on the internet. Kabbage is a great small business lender you can use, but trying out something different never hurts. There are lots of competitors or alternatives to use, but I will be listing out the top best five ones to use. But first, let’s have a brief explanation of what Kabbage is and the kind of services it offers.
What is Kabbage?
Kabbage is an online financial technology company based in Atlanta, Georgia. It provides funding directly to small businesses and consumers through an automated lending platform. It is the simplest and fastest way to get a loan for your business.
The platform or service’s goal is to help business owners reach their goals. Kabbage is one of the best online loan services or lenders you would come across. Now, with that said, let’s get down to the reason for this post which is Kabbage Competitors.
Best Kabbage Alternatives
Kabbage is an online small business loan lender is known for its speedy application process and convenient products. It is accessible for all to use. It is a great service to use, but of course, as you know, everything in life has a downside and that’s most times it is good to try out things. Whether you are searching to make comparisons or probably want to try new things for other reasons, on Kabbage Competitors today, I will be giving a list of the best alternatives you can use.
5 Best Kabbage Competitors
If you’ve had the decision to stop using Kabbage or simply to try out something new, then you should read on. Here are the top 5 best alternatives or Competitors of Kabbage that you should use;
Just like Kabbage, Lendio is a business loan matchmaker that helps to shop your request for loans around to other partners. Then if you are found eligible, you will be given the best offers by Lendio. That is because, Lendio works with plenty of partners, so you can compare their offers before choosing a loan product. Also, you are not charged any direct fees for its services, instead, Lendio receives compensation from the partners.
Within 72 hours of your application, Lendio promises to bring you the best eligible matches. Once you have chosen an offer, the rest of the whole application process will actually vary depending on the one you are requesting for. Lendio is one of the best competitors of Kabbage that you will come across on the internet today.
OnDeck is also one of the best alternatives to the Kabbage lending service. It provides a line of credit and term loans and the applicants may be eligible to either both or one of the products. OnDeck is actually best or the right one if you already have an established business but your credit score isn’t high. For as long as you meet the time in business and the requirements of revenues, the platform or service will be able to lend you if though your credit score is low.
OnDeck actually meets the needs of lots of businesses that have asked for its help. Just like Kabbage, the service is sometimes criticized for having high borrowing fees. The application process of OnDeck generally takes less than 24 hours. And then a couple of working days for the money or funds to enter your bank account.
Fundation is actually one of the most challenging fund lenders to get on my list. But once you are qualified for the application, you’ll benefit from lower rates and fees than other ones. The platform’s rates are lower than that of Kabbage’s and also better than most of the ones you would come across. It is a great lender to use but didn’t stay at number one because of its application process. The application process takes a little longer than the others on my list. But trust me, it is very fast.
Fundbox is an online fund lender that provides customers with a fast and simple automated application process. The services offer invoice financing, but presently Fundbox provides lines of credit in addition to that service. Application qualification is easier than Kabbage. All that is required is a compatible business bank account for at least three months. Or a compatible accounting software that has been in use for at least two months.
Fundbox doesn’t require a specific credit score to give loans. It is mostly a great choice for younger businesses. As a young or small business that seems not to be qualified on the other lenders, Fundbox is the right one for you to try out.
BlueVine is actually not mainly on lines of credit but invoice financing, and that doesn’t stop it from offering lines of credit. That is to say, while B2B businesses that actually invoice customers will be accepted for invoice factoring, B2B and B2C are equally eligible for their lines of credit.
This platform doesn’t require businesses to have a long operating history, but your credit score should be at least fair. It is actually one of the best competitors of Kabbage that you would come across on the internet. Though it will not be able to compete with the speed and ease you get with using the Kabbge application and funding process, it is close. In Summary, BlueVine is a great alternative service you can use.