Kabbage offers lines of credit up to $150,000 with short repayment terms (six, 12 or 18 months) and APRs ranging from 9% to 36%. Kabbage is only lending to existing customers at present, but it's a good option for borrowers with fair credit and for those who need short-term financing.
Here's how Kabbage competitors compare.
OnDeck, a major Kabbage competitor, offers short-term business loans and lines of credit.
OnDeck is best for small businesses that need quick funding and don’t mind daily or weekly repayments.
In exchange for convenience and looser qualifications than most banks, you could pay high interest rates. For term loans, annual percentage rates ranged from 16.9% to 99.4%, while for lines of credit, APRs ranged from 23.9% to 56.9%, according to OnDeck’s financial filings.
As another alternative to Kabbage loans, BlueVine is best known for offering invoice factoring, which turns unpaid invoices into fast cash. Invoice factoring is best for businesses that work with other businesses.
The lender also offers lines of credit. Similar to Kabbage, BlueVine’s credit lines have short repayment terms, so they’re best for short-term needs like managing cash flow.
BlueVine’s credit line APRs range from 15% to 78%.
Fundbox also offers business lines of credit if you need cash fast.
Compared with BlueVine, Fundbox’s funding tops out at $100,000. If you need a larger sum, BlueVine offers a line of credit up to $250,000. (OnDeck also maxes out at $100,000.)
Fundbox’s APRs are comparable with OnDeck and BlueVine, ranging from 10% to 79%.