For online merchants selling on Amazon and eBay, finding working capital isn’t always easy. No matter how many products you sell or how quickly, it seems finding extra money to expand your business is often difficult, if not impossible. In 2009, merchants sold more than $70 billion in merchandise through online marketplaces and investors predict that number to skyrocket by 2014. With online businesses growing faster than owners can keep up, Kabbage Inc. is giving merchants a helping hand and some much needed Kabbage.
Founded in early 2009, Kabbage is revolutionizing the finance world by creating the first financial service provider platform for online sellers. Kabbage specializes in providing working capital to merchants by leveraging online data and merchant activity like traffic statistics, seller ratings, transaction volume, social-media activity, and credit scores to determine eligibility. Once approved, advances range from $500- $50,000 with interest rates varying between 3-7% for 30 day loans and 10-18% for six month loans. Finding money for inventory, system upgrades and marketing has never been easier!
Slang for paper money, Kabbage has gone on to assist nearly 30,000 customers with working capital to successfully launch and fund their online businesses. Whether you’re a small or medium sized business, Kabbage is giving entrepreneurs the opportunity to seize their dreams by enabling customers to go from applying online to cash money in their PayPal account in less than 10 minutes. If you’re an online merchant using eBay, Amazon, Etsy, Shopify, and Yahoo! Store to sell your products, Kabbage Inc can help.
To qualify for a Kabbage Advance, you must have consistent revenue transactions for a minimum of 3 months. Their system takes into account a variety of factors when analyzing account details including but not limited to average monthly sales volume and credit report. Also, if you sell on multiple online marketplaces Kabbage Inc supports, they calculate the combined revenue in their monthly average.