Best Reviews TopConsumerReviews.com Best Business Loans Best Reviews
Best Reviews
      July 3, 2020

Home  >  Business Loans  >  Kabbage vs CAN Capital

Best

Business Loans

  1. Funding Circle
  2. LendingTree
  3. LendingClub
  4. Kabbage
  5. National Funding
  6. Clearbanc
  7. Balboa Capital
  8. Nat Business Capital
  9. CAN Capital
  10. Advanced Comm Capital
  11. Capital Loan Hub

Your Information Is Secure
Personal Loan Tips Newsletter

Compare Products

  • Select any 2 companies in our reviews to compare them head-to-head!

Latest Reviews

Credit Counseling

GMAT Test Prep

GRE Test Prep

Homeschool Supplies

Investment Newsletters

Junk Removal

LSAT Test Prep

MCAT Test Prep

Senior Care

Thyroid Health

 

Individual Reviews

On Deck

Funding Circle

LendingTree

LendingClub

Kabbage

National Funding

Clearbanc

Balboa Capital

National Business Capital

CAN Capital

Advanced Commercial Capital

Capital Loan Hub

 

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

Better Business Bureau Reliability Seal

Kabbage vs CAN Capital

Best Business Loans

To help you find the Best Business Loans, TopConsumerReviews.com provides you with an in-depth comparison of Kabbage and CAN Capital.

To see ALL of our reviews for the Best Business Loans, please Click Here

With all the difficulties in today's economy, many people are choosing to open their own business instead of working for a traditional employer. Whether you're just starting your business, expanding your already-established business, or even hanging out a shingle as an online company, it's likely that at some point you'll need a business loan to successfully meet your customer's needs and your business goals.

In the past, small business owners relied heavily on traditional brick-and-mortar banks in order to finance their business loans. Often that meant that borrowers had to rely on their own reputation and relationship with their local bank. Getting the lowest possible interest rate was also more challenging, since there were few lending options from which to choose.

Continue reading below reviews

Best Reviews

2020

Business Loan Reviews

4 stars
Kabbage

KABBAGE

Visit Site

If you're looking for a modern way to get a business line of credit, Kabbage offers lines from $2,000 to $100,000. An accredited business with the Better Business Bureau since 2014, Kabbage's A+ rating demonstrates that they are a contender in the business loan market.

Unique creditworthy verification

One unique feature of Kabbage is their use of other online services to verify the creditworthiness of your business: if you sell products on Etsy or receive regular payments from customers via PayPal, for example, you can link to those services to show Kabbage a real-time snapshot of your business data. This is an impressive way to save time often required by other lenders' paperwork processes, such as obtaining and documenting your credit score or sending in bank statements. The signup and application process, including this linked verification, takes only a few minutes; once qualified, you receive instant access to your approved amount.

Best Business Loans

Business loan requirements

In order to get a business loan from Kabbage, you will need to meet their minimum requirements:

  • In business for a year or longer
  • More than $50,000/year in revenue

Those requirements do mean that Kabbage would not be suitable for startups or companies within their first year of doing business.

Low fees

We were impressed by Kabbage's low fees for their business lines of credit: 1.5% to 12%. Loans are paid back either in six months or twelve, and there are no early payment fees. There are no application fees either, making Kabbage one of the most straightforward lending platforms in our review.

Small business guides

We also like Kabbage's dedication to helping small businesses succeed. Their website has a Resources section that includes an up-to-date blog, complimentary Small Business Guides on a variety of topics, and even access to webinars on topics from bookkeeping to hiring.

Great lending resource

While Kabbage won't be able to help you if you're looking for funds for your startup, or if you need a loan in excess of $100,000, they are a fantastic, low-fee resource if you have an established business that is doing well overall. Kabbage easily earns a four-star rating.

Visit Site
3 stars
Can Capital

CAN CAPITAL

Visit Site

Established in 1998, Georgia-based CAN Capital offers business loans ranging from $2,500 to $150,000 or more with terms from 4-24 months. CAN Capital focuses specifically on small business owners, with tools, resources, and blog posts directed towards helping them to grow their businesses and succeed.

No startups

Unfortunately, CAN Capital is not one of the lenders in our review who make business loans to startups: they require borrowers to have been in business for at least four months and have monthly revenue that is relatively stable.

48 hours for funds

The application process is relatively simple and is comparable to other lenders' in our review: enter basic information about the business, such as the gross monthly sales, number of months or years in business, and the business' location. Once the application is approved, funds can be sent is as little as two business days.

Be careful with the loan terms

While CAN Capital doesn't publish their APR during any part of quote or application process, there is a calculator that allows prospective borrowers to enter the amount of their monthly sales, the desired loan amount and term, and see the weekday payment, principal amount and the total repayment amount. Of course, this is just an estimate; the final loan offered would naturally depend on the business' history, creditworthiness, and actual loan terms. Customers should make sure to read the fine print: both when we ran our own theoretical scenarios and when we considered CAN Capital's reviews, we saw interest rates around 30%, all the way up to 85%! Given that CAN Capital focuses on small businesses, particularly those who haven't been able to qualify for a traditional loan, we wonder if such high interest rates will actually help a business to succeed instead of being overburdened with (additional) debt.

Another possible downside of having a business loan with CAN Capital is the effect on one's personal credit; one customer complained that CAN Capital pulled a hard inquiry on their personal credit every six months for the duration of their loan, even though the customer had no late payments or any other issues with the loan.

Overall good job

On the other hand, CAN Capital has been accredited with the Better Business Bureau since 1998 and carries an A+ rating. In our opinion, this carries a great deal of weight and would indicate that, overall, CAN Capital is doing a good job of providing loans to almost 140,000 small businesses in ways that are honest and trustworthy.

Visit Site

Continued from above

Fortunately, business owners today can choose among many lenders to find the best terms and interest rates available. In addition to the old local options, small business borrowers now have much more and better choices through various lenders on the Internet that specialize in small business loans.

There are many factors that you should consider before selecting a lender for your business loan. Some of these include:

  • Loan size and rate. How much will you be allowed to borrow? What interest rates do they typically offer on loans of that size?
  • Loan application process. When applying for your business loan, can it be completed online? Is the lending process easy and straightforward?
  • Requirements for business history. Can a brand-new business take out a loan, or is there a minimum time that the business must have been in operation in order to qualify? What other verification and/or collateral is required to secure the loan?
  • BBB rating. Does the lender have an established history of good business practices?

TopConsumerReviews.com has reviewed and ranked the best Business Loan programs available today. We hope this information helps you find the best loan for your small business at an affordable rate!

House Clears Extension of Small Business Loan Program to August

The House gave final last-minute congressional approval Wednesday to extending the popular Paycheck Protection Program for small businesses until Aug. 8, hours after the deadline for applications ...

Published:  Thu, 02 Jul 2020 03:06:00 GMT



House votes unanimously to extend deadline for coronavirus small-business loan program

The House on Wednesday unanimously passed an extension to the $660 billion Paycheck Protection Program (PPP) less than a day after the program expired.

Published:  Wed, 01 Jul 2020 17:49:00 GMT



PPP loans: House passes small business loan Paycheck Protection Program extension by unanimous consent

The US House passed an extension of the $660 billion Paycheck Protection Program fewer than 24 hours after the program shut its doors, moving one step closer to reopening the cornerstone small ...

Published:  Wed, 01 Jul 2020 20:15:25 GMT



House passes extension of coronavirus small business loan deadline

The program is designed to help small businesses keep employees on payroll during closures designed to slow the pandemic's spread. The House passed a bill Wednesday to extend the deadline to apply for ...

Published:  Wed, 01 Jul 2020 22:17:00 GMT



Coronavirus: House passes PPP extension bill giving small businesses more time to apply for lifeline

The House Wednesday followed the Senate's lead Tuesday and voted to extend the Paycheck Protection Program through Aug. 8.

Published:  Wed, 01 Jul 2020 15:58:00 GMT



Senate passes extension of application deadline for PPP small-business loans

The Senate on Tuesday cleared legislation to extend the deadline for businesses to apply for coronavirus aid under the Paycheck Protection Program (PPP), which will expire at the end of Tuesday.Under ...

Published:  Tue, 30 Jun 2020 17:55:18 GMT



U.S. House approves extension of small business loan program

The U.S. House of Representatives on Wednesday approved an extension of a $660 billion lending program in an effort to help small businesses hit hard by the coronavirus pandemic, renewing a lifeline ...

Published:  Wed, 01 Jul 2020 15:03:00 GMT



3 reasons to pay student loans in coronavirus forbearance

Here are three ways borrowers benefit from paying their student loans during the coronavirus-related forbearance period, according to a money expert. "Right now, student loans are at zero percent ...

Published:  Thu, 02 Jul 2020 10:08:00 GMT



Harris County commissioners OK $30M Small Business Recovery Fund grant program

Harris County Commissioners Court approved a $30 million small business grant program established with CARES Act funds.

Published:  Tue, 30 Jun 2020 16:21:00 GMT



Share Us!   

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure