Is there a problem of ribbis borrowing from Kabbage?

Home Coffeeroom Bais Medrash Is there a problem of ribbis borrowing from Kabbage?

Viewing 9 posts - 1 through 9 (of 9 total)
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  • #1579264

    Haimy
    Participant

    Kabbage is a Business lender owned by multiple groups including Jewish investors. The CEO is Rob Frohwein, a Jewish psh person.
    Kabbage offers loans on alibaba at low rates.
    Has anyone investigated the question of ribbis ?

    #1579277

    zahavasdad
    Participant

    you do not borrow from Kabbage, you borrow from other people, Its peer to peer

    Rob Frohwein does not usually give the loans

    #1579318

    Haimy
    Participant

    Another senior Jewish partner is Marc Gorlin. Have you received a heter to from a privately held loan originator like Kabbage?

    #1579372

    zahavasdad
    Participant

    They are not a loan orginator, they are a peer to peer lender. Meaning they get private people who are willing to loan money to those who want the loan

    The also do credit check and help service the loan, however they do not make the loan

    #1579439

    yitzchokm
    Participant

    Who cares who makes the loan? The company makes money off the interest.

    #1579475

    zahavasdad
    Participant

    No the lender makes the money off the interest. Kabbage makes money off servicing the loan.

    #1579476

    Haimy
    Participant

    They also have their own money invested in the company. They aren’t just loan processors. This a company with significant Jewish leadership & probably capital as well. With many yidden buying on Alibaba, this deserves serious scrutiny.

    #1579483

    zahavasdad
    Participant

    One can buy on Alibaba without using Kabbage. Alibaba is just an ecommerce site like eBay or Amazon. It just concentrates on Chinese based wholesellers. It has nothing to do with Kabbage.

    All people are using Kabbage for is to borrow money for Alibaba, if they get the money elsewhere they are not using Kabbage

    #1579491

    Haimy
    Participant

    Correct. But it’s very easy to click on the pay later icon & you may be dealing with ribbis dioraisoh.

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