Is there a problem of ribbis borrowing from Kabbage?

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

Viewing 9 posts - 1 through 9 (of 9 total)
  • Author
    Posts
  • August 23, 2018 11:32 am at 11:32 am #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 ?

    August 23, 2018 12:13 pm at 12:13 pm #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

    August 23, 2018 1:02 pm at 1:02 pm #1579318
    Haimy
    Participant

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

    August 23, 2018 2:24 pm at 2:24 pm #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

    August 23, 2018 3:48 pm at 3:48 pm #1579439
    yitzchokm
    Participant

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

    August 23, 2018 4:53 pm at 4:53 pm #1579475
    zahavasdad
    Participant

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

    August 23, 2018 4:53 pm at 4:53 pm #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.

    August 23, 2018 5:26 pm at 5:26 pm #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

    August 23, 2018 7:23 pm at 7:23 pm #1579491
    Haimy
    Participant

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

  • Author
    Posts
Viewing 9 posts - 1 through 9 (of 9 total)
  • You must be logged in to reply to this topic.