Minimum 3 months with at least average $2500 income. Transactional income, like retail items and such. I can't get approved because I have ALL other requirements except transactional income. My retail income is a small portion of my service income and they don't like service based income.
Gardening since 12/15/2019. Goal 12/15/2021
Don't do Kabbage....UNLESS YOU KNOW YOU CAN PAY IT OFF in 6 MONTHS
We had a 35K Line with Kabbage
We used about 25K and fell about 10 days late/behind... they froze the available credit....we brought it current still frozen....
We become 'dependent' on taking out an additional loan... and got into a rut when it wasnt't available... poor companyt financial decision... Ended up going really late (6 months) and before charge off.... (never showed on personal credit) we made an offer/comromise for a lon
we were able to pay down 10K in the loan (put it on a revolving business credit card (BJ's).... and the rest of the loan we took aprox 5 years to pay off ... they extneded with no additional fees....so they do work with you
I would recommend ONLY using it when buying inventory (calculate it in the cost of the inventory).... don't be a day late
***Also look at PAYPAL Working capital*** and Amex Merchant Advance.
