I received the first ppp loan without a problem it was a seamless process so when the opportunity to apply for the second draw ppp loan came about I went ahead with the process. Now this was the beginning of January. Before the application was available I realized that I needed to update my bank account information. So I contacted K Servicing formerly Kabbage, To begin the process i was told that I need a voided check or a letter from a bank representative signed by the representative on bank letterhead, stating full account and routing and so forth. So Due to Co-vid 19 my bank offers limited hours and many branch locations were closed. I contacted my bank and asked if they could maybe email me something like this she email me an ACH/ DIRECT DEPOSIT form I submitted this on the Kabbage portal. Application time is here and I submitted application to apply for the second draw, at this time I was informed that I need to submit a bank letter because the form submitted would not be good enough for them to submit my application to the SBA.so I went 30 mins across town to an open bank location to have the manager talk with the Kabbage rep, I figured maybe she could understand what K-Servicing needed in order to push the application. She printed out the same form that i had submitted previously she signed her name it was already on bank letter head but she also added her stamp gave me her business card and sent me on my way. I submitted this document on the portal mind u on Jan 22 K Servicing made micro deposits into my account that i was also able to verify that they were working in the proper account, They rejected the bank letter so now the supervisor had me send in Months of bank statements screenshots of the micro deposits and everything. Ok so next thing now I'm approved and awaiting disbursement on Feb. 8 but the dashboard inside the Kabbage portal said 5-10 business days the latest being Feb. 11th, here it is Feb 23rd. No money deposited yet into my account and now they tell me their bank verifying department rejected the letter I'm like well how did you get the SBA to approve me if the letter was rejected? All the while the SBA is under the impression that I received these funds on Feb1st. It Angers me that this loan is accruing Interest daily But K-servicing is still holding the funds. Now last week I submitted another ACH form that was mailed to me from BANK OF AMERICA, NA and they rejected it. And to here roosters crowing in the back ground while talking to the CSR Supervisor. It angers me that my Earned income from having to work a traditional job due to Co-vid shutdowns are keeping my business afloat, my business funding is being held hostage all the while the SBA thinks they have helped me but K-Servicing have held my loan proceeds for days since SBA funded it on Feb 1st. I really wish I would have gone with someone else for the second draw it should have been easy since this is my second loan with them but I should have gone with a different lender... PLEASE BEWARE IT SEEMS SORDA SCAM-LIKE, ARE THEY REALLY STEALING MY MONEY? SOMEONE PLEASE HELP ME!

On June 18 I applied for Kabbage. I was looking for business line of credit around ******* USD. I was approved ******* then they requested additional documentation such as 2 years tax returns, invoices, bank statements. When I provided all that documents on 06. 26. 18 a very rude representative told me that my account was blocked as it was fraud and their business team made such a decision. I was shocked. My husband called the second time and another employee told him that there were no froud and they never received the documents. My husband double checked with him and the person noticed that the documents were uploaded on time and it was a mistake from their part. When we called second time another representative lied to him saying that they JUST reviewed the documents and the account was closed for fraud. We called third time and another representative told him that there was no fraud but they didn't receive the invoices requested. The invoices were sent on time with other documents they just didn't pay attention to that. We were told that we would be contacted. Nobody called us, next day we called and spoke with Mike who was in charge with the account and he told us that they reviewed and marked the account as fraud after reviewing the documents. We requested a supervisor who told us that Mickel did a mistake and THERE WAS NO FRAUD and she didnt know why Michel and other representatives claimed as fraud. I assume when somebody by mistake blames you for a fraud he should take some responsibility for his words. After speaking with supervisor, Michel confirmed that there were no fraud. The reason for not extending the credit according to supervisor that they didnt like my company invoice style. My company provides certified translations and engaged in computer equipment sales and most of transactions is done through paypal. I am a sole proprietor and I don't need to have very sophisticated invoicing! Anyway they told me that my account was open there was no fraud and their system could extend a credit untill itvgets more details. I decided to add more bank and business links to the system like paypal. I asked my husband to make a call on 6/29/2018 and A VERY RUDE REPRESENTATIVE told him that she would close the account, she made that decision herself and hang up the phone on him and there was nothing they could do and she didnt care about extra information provided. He called to speak with the supervisor and to find out the name of the employee who was unprofessional to file a customer service complaint. The next representative told him that he saw in their ''system '' that he did not speak with anybody that day and a new person in charge of my account will call us to solve the issue. Guess what? Nobody called us. Till today I am receiving several emails from them offering their services, BUT NOBODY after submitting the application has called me to help with account or updated the status. We were supposed to chase them to make sure that they checked documents that were submitted. This is a terrible customer service. They requested confidential financial information, did a hard credit inquiry and were monitoring our business banking for all 3 banks but didnt provide any answer why I was approved but was not able to use the funds. Even I am not able to unlink our business online banking and they are monitoring it for NO reason and authorization.

Terrible. Not at first but fees were outrageous when you start checking your fee changes even if you pay on time over several loans
IN THE END I FOU ND MY LOAN RATE TO BE OVER 33 PERCENT
Over 4 yrs I borrowed upwards of 60 thousands
Always paid on time but didn't like the fees and the huge payments every 30 days
That being said the majority of my sales came for eBay stores, and when ebay changed to the cassini search system my sales dropped by 49 percent
So. I requested a 3 day extension to be told it would cost 100.00 fee
Struggled but made payments then I was deemed terminally ill and immediately put on disability which with experimental drugs I am now considered chronic not a death sentence
I explained this to kabbage that I would no longer be operating a store but would continue to make payments
Meaning that I removed permissions from accounts so they couldn't make a sweep of all the funds due
They kept calling me and making threats until I finally said make arrangemnts with me and lower payment until paid off and I told them I was judgement proof due to disability so work with me or I would default and file bankruptcy
Removing permissions is the only way to prevent them from ruining you
They agreed but after many threatening emails and calls.
Once they realized I would default without a payment plan they agreed
Paid the last few thousand in payments of 366.00 then an unexpected payment arrived so I paid it off in 3 months instead of 12 as they finally set up
Only did they help after I removed all permissions and closed bank account and sent letter of judgement proof documents from my attorney
Don't get fooled. Kabbage will come after your personal assets not just your business assets.
They refuse to help you and get down right nasty.
They tried to make a sweep on my personal bank which was refused, on paypal which permission was removed.
Even after making payment arrangement.
Do think about who you are dealing with before you take a loan with kabbage
I would like the state attorneys take this company to task making them explain why they think their business practices are not predatory lending
They bombarded me with emails, literature and constantly asking me to borrow
I did and wish I never opened the first email
Yes, fast approval, fast transfer of funds but if you want to hook a fish that's what you do..

Aside from the truth of most of the negative reviews on here something absolutely horrendous about Kabbage.com needs to be made clear. You will not be able to update/edit or most importantly remove your personal information without their permission!

Any merchant account bank account that you no longer use you must submit a REQUEST to have YOUR information updated or removed! This is a MAJOR RED FLAG and is NOT standard practice. Any company that holds your information hostage from you and orders you around about how it will be used is not worthy of your support. Not even their reps have the authority to edit your account.

Do you understand? THEY HAVE TO GET PERMISSION FROM THEIR SUPERIORS IN ORDER TO REMOVE Y O U R INFORMATION.

I borrowed $2k from them and the interest was insane I paid it off super fast then my limit was dropped to 0. How do you successfully borrow $2k then get $0 next? It's a ridiculous predatory automated system.

Their customer service reps are even worse. They are very rude and pretend that there is something wrong with you for not accepting how they do business.

Yet another example, I tried to remove my bank account to add another one because I no longer use the old one and they said sorry but you're going to have to add the other first then ask us for permission to remove the old one! I tried adding it but the system had an error at the end and said someone would contact me which no one ever did. The system was having a problem with the account and routing numbers of my credit union which was a large bank. They use only 6 digits for account numbers so I added the necessary prefix numbers the bank told me about and it went through otherwise it kept saying you need 7 to about 18 digits. The second time I tried with only 6 numbers it didn't say that and immediately went through and connected. Then while it said connected it wasn't linked because they said there is a problem with the numbers. How is it added but not linked!?

Long story short instead of deleting now the new account too so I can try again they said sorry nope we own your personal information now and we won't remove it. All you can do is send us 3 months of bank statements and a color voided check!

Here is the exact ignorant rude message so you can see for yourself:

Hello,

Thank you for your patience, our business team has INSISTED in order to clear the verification error message for the account ending *0002. Please provide the following documents:
3 months of bank statements
Colored voided check

Warm regards,

*
Part of the Kabbage Team
*******263

Does this sound like a company you want to do business with? I'm filing a complant with the BBB and rip off report next. If we don't stand up together against companies that abuse our personal information one day this will be the new standard. Never ever accept these kinds of intrusive abusive companies.

*Personal information redacted by admin

Great easy way to to get business loan Thanks

BEST WAY TO PICK UP INVENTORY WHEN THE DEALS COME UP AND YOU NEED CASH RIGHT AWAY.

Kabbage Is a great lending company for business!

Money is delivered fast to your account

Great service

Helps small company's that need quick cash.