Early repayments & Comparison
There are no early payment fees.
How do they compare with other companies in the industry:
Kabbage is a unique internet lender. They operate much more like a credit card than other non-traditional lending options available on the web. But they’re not a credit card, and consequently they are much more difficult to comprehend and categorize. For instance, each loan is at its most expensive during its first month (UK) or two months (US). The monthly cost drops thereafter to either 4% or 1%, respectively. But the user is required to pay off the loans in the order in which they were taken out. Therefore, if you have a large loan that is 5 months old, followed by a small loan that is 2 weeks old, you are not able to pay off the small, expensive loan until the large, cheap loan is paid off. Can’t pay off your total balance? Kabbage earns high interest on your newest loans until you can. This is the sort of confounding behaviour that infuriates many users. With variable rates and these stringent payment requirements, Kabbage can quickly become a messy money pit for frequent users.