I’ve been hearing a lot about Kabbage recently, so I tried them out a few weeks ago. Kabbage provides funding just for online sellers. Borrowing money is not always the wisest choice for personal use but for business – it can help to “get over that hump”.
Here’s how it works:
1) Enter your Amazon ID or eBay ID, so they can check your online selling history. 2) If you have a sufficient activity, complete the application. 3) See how much money you are offered & choose the amount. 4) The funds will be in your PayPal account in less than 5 minutes. 5) You will now have a 6 month payment plan set up on PayPal I believe there are some minimum requirements:
- You need to have a selling history of at least one year
- There is a minimum monthly revenue requirement on Amazon or eBay
Kabbage provides working capital to online merchants as they list products for sale, leveraging information generally available on online marketplaces to assess risk and help determine advance amounts and related fees and interest. This approach allows Kabbage to understand our customers better and, as a result, provide them with cash as and when they need it. Kabbage embarked on its unique business model in late 2008 and in April 2010 began making its first advances to marketplace sellers. Since then we have expanded to multiple marketplaces to help serve online sellers. For more information, please visit Kabbage.com.