BlueVine VS Kabbage: Compare Loan Options, Borrower Qualifications, Rates & Terms
In the match between BlueVine & Kabbage Loans, both fintech companies have their pros and cons. Keep on reading to find out which out company is right for your small business.
|Ideal For||Businesses with poor credit that are seeking a flexible line of credit||Businesses that need a small credit line fast|
|What’s Missing||Longer-term options||Higher borrowing amounts|
|What’s Next||Visit Site
Even though alternative lenders generally offer similar products, the way they present information can make it difficult to do direct comparisons. Such is the case with BlueVine VS Kabbage, two of the most well-established fintech lenders in the business. Below we’ll put the two lenders head-to-head and take a close look at what they offer prospective borrowers.
Table of Contents
- Kabbage VS BlueVine Comparison: Which Loan Is Right For Your Small Business?
- What’s The Main Difference Between BlueVine VS Kabbage?
- Key Differences Between BlueVine & Kabbage Lending
- Kabbage VS BlueVine: Features At A Glance
- BlueVine VS Kabbage Borrower Qualifications
- Kabbage VS BlueVine: Loan Rates & Terms
- Customer Service & Support
- User Reviews, Complaints & Criticisms
- Which Is Best For My Business Needs: Kabbage Or BlueVine?
- Kabbage VS BlueVine FAQs:
- Kabbage & BlueVine Competitors
- Kabbage VS BlueVine Comparison: Which Lender Is Right For Your Business?
Kabbage VS BlueVine Comparison: Which Loan Is Right For Your Small Business?
When it comes to BlueVine VS Kabbage, the two lenders offer similar small business lines of credit products. BlueVine is easier to qualify for and has higher borrowing limits, while Kabbage boasts stronger customer service. Both offer neobanking services as well.
- Low credit score qualifications
- Fast & easy application
- Funds are disbursed quickly
- Financing isn’t available in some states
- Rates can be expensive
- Repayments are required quickly
Once an invoice factoring company, BlueVine now deals in lines of credit and neobanking services. BlueVine’s easy borrowing requirements and application process makes it an accessible lender for most businesses.
BlueVine’s lines of credit do come at a high cost, however. They’re also not available in Nevada, North Dakota, or South Dakota.
- Reasonable borrower qualifications
- No added fees
- Fast and easy application
- Rates can be expensive
- Hard pull of credit during application
- Low borrowing amounts
Lines of credit make up just one part of Kabbage’s business model, which also includes payment services and banking. Kabbage’s lines of credit are small and expensive but feature a less punishing repayment schedule than many of its competitors.
Kabbage is known for strong customer service and transparency, which generally makes the lending process smooth and painless.
What’s The Main Difference Between BlueVine VS Kabbage?
With both BlueVine and Kabbage offering short-term lines of credit and neobanking services, the differences between BlueVine and Kabbage are mainly in the precise terms of how they offer their services.
Both companies offer:
- Revolving lines of credit
- No maintenance fees
- No prepayment penalties
- Fast funding times
- Simplified applications
- Business banking
- Payment services
Kabbage Also Offers
- Excellent transparency
- Lending in all 50 states
- Easier business revenue qualifications
BlueVine Also Offers
- Lower average rates
- Higher borrower amounts
- Easier credit and time in business qualifications
Why Choose Kabbage As Your Lender?
Kabbage will appeal to businesses with decent credit, but still want a fast and easy line of credit with monthly repayment terms. Additionally, Kabbage is available in all 50 states, making it an option for businesses in Nevada and the Dakotas.
Why Choose BlueVine As Your Lender?
BlueVine’s low borrower qualifications make its lines of credit accessible to more businesses. BlueVine may also be more competitive in terms of rates than some of its competitors.
Key Differences Between BlueVine & Kabbage Lending
BlueVine and Kabbage offer very similar products with very similar terms. BlueVine offers more relaxed qualifications, higher borrowing limits, and slightly better rates on average, and avoids hard pulls on your credit during the application process. Kabbage offers more term length options, greater geographic availability, and low revenue requirements for borrowers.
BlueVine VS Kabbage: APRs
BlueVine’s APRs run between 15% and 78%, while Kabbage charges monthly fees instead of the traditional APR. Those monthly fees can range from .25%-3.5%. Remember that your credit rating and business profile will ultimately determine your rates, regardless of which lender you choose.
BlueVine VS Kabbage: Borrower Qualifications
New businesses and businesses will less than stellar credit will have an easier time qualifying for BlueVine’s lines of credit. One caveat, however, is that Kabbage does have lower business revenue requirements than BlueVine, which could make them a better option for smaller businesses.
BlueVine VS Kabbage: Borrowing Limits
While neither lender offers huge amounts, BlueVine’s credit limits can be as high as $250,000.
Kabbage maxes out at $250,000.
BlueVine VS Kabbage: Credit Pulls
Kabbage performs a hard pull on credit during the initial application process, whereas BlueVine does not.
BlueVine VS Kabbage: Draw Term Lengths
Both BlueVine and Kabbage offer draw term lengths of 6 and 12 months. Kabbage, however, also offers an 18-month draw term.
BlueVine VS Kabbage: Geographic Availability
Kabbage is available in all 50 states. BlueVine is not available in Nevada, North Dakota, or South Dakota.
Kabbage VS BlueVine: Features At A Glance
|Lines Of Credit|
|Merchant Cash Advances|
Kabbage and BlueVine restrict their financing options to lines of credit. Both companies have also recently entered the neobanking arena, offering some bank-like services to customers.
Let’s take a quick look at these features.
BlueVine VS Kabbage Borrower Qualifications
|Time In Business||6 months||12 months|
|Minimum Credit Score||600||640|
|Other||Can’t be based in Nevada, North Dakota, or South Dakota||N/A|
As we covered above, BlueVine and Kabbage cater to a similar audience. You can consider their borrower qualifications a filtering process not just for the lenders, but for you as a borrower.
Kabbage caters to businesses with low annual sales, but strong credit. BlueVine targets businesses with slightly troubled credit, but with a higher volume of revenue.
Kabbage VS BlueVine: Loan Rates & Terms
|Term Length||6 or 12 months||6, 12, or 18 months|
In rates and terms, as well as elsewhere, there’s a lot of overlap between Kabbage and BlueVine.
BlueVine generally comes out ahead in terms of rates and terms, with higher borrowing amounts and a lower median APR. Kabbage’s lines of credit do have one thing BlueVine’s don’t, however, and that’s an 18-month draw term option.
BlueVine’s lines of credit are repaid weekly or monthly depending on the draw term. Kabbage’s are repaid monthly.
Customer Service & Support
Blue Vine offers the following ways to contact customer service:
- Phone: 8 AM – 8 PM ET, Monday-Friday
- Email: Through the contact page on website
- Online FAQ
- Social Media: Twitter, Facebook
Kabbage can be contacted by:
- Phone: 8 AM – 9 PM ET
- Help Center
- Social Media: Twitter, Instagram, LinkedIn, and Facebook
User Reviews, Complaints & Criticisms
As alternative lenders, Kabbage and BlueVine are subject to many of the same criticisms. In particular, customers complain of high fees and reject applications with both companies.
Beyond that, there are complaints specific to each lender.
BlueVine Complaints & Common Problems
BlueVine borrowers also complained about:
- Rejected line of credit draws
- Communication issues
Kabbage Complaints & Common Problems
Kabbage borrowers also complained about:
- Front-loaded fees
- Sudden credit limit cuts
Which Is Best For My Business Needs: Kabbage Or BlueVine?
Even with lenders as similar as BlueVine and Kabbage, there’s no one-size-fits-all solution.
Choose Kabbage If…
- You have good credit
- You want an 18-month draw window
- You live in Nevada, North Dakota, or South Dakota
- You have less than $120,000/yr in revenue
Choose BlueVine If…
- You have credit in the low 600s
- You have at least $120,000/yr in revenue
- You want a credit line with a slightly better APR
Kabbage VS BlueVine FAQs:
Kabbage & BlueVine Competitors
Kabbage and BlueVine aren’t the only fintech companies offering lines of credit to small businesses. If you need a line of credit but don’t think either lender is right for you, or if you don’t fit the borrower qualifications of these two companies, there are alternatives available. Explore our top picks for Kabbage alternatives and BlueVine competitors to learn more.
Kabbage VS BlueVine Comparison: Which Lender Is Right For Your Business?
When it comes to BlueVine VS Kabbage, the devil is in the details. Hopefully, you now have a good sense of which lender, if either, best fits your needs. Remember to shop around for the best rates if time permits, so that you’re sure you’re getting the best deal possible.