Kikka was really help for me and the easiest hassle free loan system I've come across. Easy to apply online and was given an amount I could borrow. I then didn't need to use if for a few months, but i... See more
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Simple and super quick application and access, funds transferred and available within 6 hours of lodging application. This is after trying for 3 weeks to get answer from my bank! Don't even bother wi... See more
I was a little apprehensive to start with, but Kikka helped with making things easier, step by step instructions. Approval was fast and was able to pay it back easily without the large interest rates... See more
Company replied
Hi, We run a solar company and we had massive cashflow issues with our business. We have tried many sources to organise short term business loans, but we had very little to no success from most of... See more
Company replied
Company details
About Kikka
Information provided by various external sources
About us
Kikka is an Australian owned and operated small business lender that provides a line of credit of up to $100,000 to help you grow your business. Fast online application with same day funds transfer available. Apply now!
Contact info
L7 BGC Centre, 28 The Esplanade, 6000, Perth, Australia
- 1300 41 41 95
- info@kikka.com.au
- kikka.com.au
Easy to Use
Kikka was really help for me and the easiest hassle free loan system I've come across. Easy to apply online and was given an amount I could borrow. I then didn't need to use if for a few months, but it was great to have available capital there if I needed it. Once I did need it, it was simple to use. Just clicked a button and money was transferred to my account. I haven't got to my last repayment yet, but very straight forward so far. I would recommend and I will use it again.
February 19, 2020
Unprompted review
Brilliant to deal with
Brilliant to deal with. Professional and honest approach. Kikka give outstanding service. Very refreshing.
February 18, 2020
Unprompted review
Very fast service
Very fast service, simple process. Could improve ability to follow up applications
February 18, 2020
Unprompted review
Seriously frustrating, not as advertised
Unfortunately I found Kikka to be very underhanded in the way they go about this with the information on their website ranging from exaggerated to dishonest. Their site shows an example loan with a 2% fee per month (24% p/a). Their site offers “Free to sign up, no obligation to Borrow, Start Here”. However there is no point in their system where they ask you how much you would like to borrow, tell you how much you could borrow, or inform you what it will cost you.
Once you click “Start Here” they collect your name and basic details with the obligatory check boxes regarding information collection, privacy and permission to perform a credit check. I assumed they would contact me to discuss what my needs where before they did a credit check. Don’t get me wrong, my credit history is fine but every time a company like this does a credit check it is going to show on your permanent record. That is not a positive, and ideally that should only happen once you have been given further information about their offer and chosen to proceed with the application.
Then they direct you to a page asking for your Bank account sign in details. I stopped at that and called them. I was assured that it was a third party secure site where I would be able to choose only the accounts I wanted them to see details for. So I continued, but they ended up with the details for all my accounts despite their assurances.
Anyway I waited for more information…. The next thing I knew, they had completed the credit check and approved a line of credit for $2200 with a 9.75% fee per month (117% p/a). At no point did they ask me how much I wanted to borrow or give me any clue about what they would offer or how much it would cost.
I called them to express my surprise and point out that I had been expecting more information before they actually approved and processed my application. I was told all the information is on the website. However that information bears no resemblance to what actually happened.
From what they have told me it appears they use the average daily balance, over three months, of one of your business bank accounts, chosen almost randomly. Their system takes that figure plus details about the amount of deposits and withdrawals through your accounts and your score from Equifax, applies an Algorithm and presto, decision made. There does not appear to be much happening in the way of actual decision making.
Kikka’s website is big on the idea that they want to support small businesses but I found that they have very little interest or knowledge with respect to how small businesses operate. In the best case scenario they may simply be under the misapprehension that all small businesses are the same.
To put this all into perspective my business has a regular reliable income of approx. $100,000 per month or an average of $5000 per business day. They approved a line of credit for $2200 at 9.75% per month, less than half our average daily turnover without asking me a single question about my business or our requirements. The whole process was a complete waste of time.
For the record I have given Kikka the opportunity to respond to my concerns prior to posting a review and whilst they have cleared their interaction with my Credit record they have not responded to any of my concerns about the accuracy of the information they provide or their approval process.
June 6, 2018
Unprompted review
Reply from Kikka
Hi David
Thank you for taking the time to complete a review regarding your recent Kikka experience. Here at Kikka, we are always looking to improve the customer experience and feedback does play a role in shaping the way we do business.
We will address your points below.
David: "Unfortunately I found Kikka to be very underhanded in the way they go about this with the information on their website ranging from exaggerated to dishonest. Their site shows an example loan with a 2% fee per month (24% p/a)."
Kikka: A disclaimer is displayed under our repayment schedule explaining our months 1 and 2 fees are based on your credit assessment and range between 2% and 9.75% of the principle and then 1% for the remaining 4 months (16% p/a).
David: "Their site offers “Free to sign up, no obligation to Borrow, Start Here”. However there is no point in their system where they ask you how much you would like to borrow, tell you how much you could borrow, or inform you what it will cost you."
Kikka: Should an application be successful and offered a line of credit, at no time, is the customer obligated to draw funds. Yes, we do not ask for a specific amount that you want to borrow. We pride ourselves on being a Responsible Lender, which means we only offer a line of credit that is affordable and appropriate to help your business grow. In our FAQ’s we advise there are no upfront fees, monthly account or early repayment fees.
David: "Once you click “Start Here” they collect your name and basic details with the obligatory check boxes regarding information collection, privacy and permission to perform a credit check. I assumed they would contact me to discuss what my needs where before they did a credit check. Don’t get me wrong, my credit history is fine but every time a company like this does a credit check it is going to show on your permanent record. That is not a positive, and ideally that should only happen once you have been given further information about their offer and chosen to proceed with the application."
Kikka: Prior to submitting your application, you are required to give us authorisation to access a consumer and company credit report. During the application process, one of our customer service agents explained over the phone how our products worked when you were inquiring about your concerns with providing us access to view your last 3 months of banking transactions. At any time you are not obligated to continue completing the application.
David: "Then they direct you to a page asking for your Bank account sign in details. I stopped at that and called them. I was assured that it was a third party secure site where I would be able to choose only the accounts I wanted them to see details for. So I continued, but they ended up with the details for all my accounts despite their assurances.
Anyway I waited for more information…. The next thing I knew, they had completed the credit check and approved a line of credit for $2200 with a 9.75% fee per month (117% p/a). At no point did they ask me how much I wanted to borrow or give me any clue about what they would offer or how much it would cost."
Kikka: When you link your bank account for assessment, we never see or store your passwords. The system we use to handle your banking information is trusted by hundreds of thousands of small business each year. When you were offered a line of credit, one of our customer service agents called and an email was sent to explain how our product works. Should you decide to draw funds, a repayment schedule is shown on your dashboard with a cost breakdown prior to signing the loan agreement. We only charge 9.75% for the first two months then 1% for the remaining 4 months, this is an APR of 47%. At any point in time, you can repay your line of credit and only pay for only what you use. We do not charge an early repayment fee.
David: "I called them to express my surprise and point out that I had been expecting more information before they actually approved and processed my application. I was told all the information is on the website. However that information bears no resemblance to what actually happened.
From what they have told me it appears they use the average daily balance, over three months, of one of your business bank accounts, chosen almost randomly. Their system takes that figure plus details about the amount of deposits and withdrawals through your accounts and your score from Equifax, applies an Algorithm and presto, decision made. There does not appear to be much happening in the way of actual decision making.
Kikka’s website is big on the idea that they want to support small businesses but I found that they have very little interest or knowledge with respect to how small businesses operate. In the best case scenario they may simply be under the misapprehension that all small businesses are the same.
To put this all into perspective my business has a regular reliable income of approx. $100,000 per month or an average of $5000 per business day. They approved a line of credit for $2200 at 9.75% per month, less than half our average daily turnover without asking me a single question about my business or our requirements. The whole process was a complete waste of time."
Kikka: Unfortunately as discussed we are unable to accept a savings account to use for a credit decision, we require the business transaction account to make an accurate assessment on the health of the business. We take responsible lending very seriously, and would never offer a line of credit that is higher than what a business can afford to pay back. We automatically assess the business performance over the past 3 months, and this determines the size of the line of credit and rate. That line can be anywhere from $1,000 to $100,000. Over time as we get to know the business your line of credit can increase and rate decrease. We know there are instances where we will not be able to offer a line of credit that is suitable to business requirements. During a call, you requested a review of your line of credit offered to be increased. The customer service agent referred your application to myself, but after reviewing the application in detail I confirm that we have reached the same conclusion as the original amount. We did advise that once we see repayment history and updated bank transaction data we will review your line of credit and rate.
David: "For the record I have given Kikka the opportunity to respond to my concerns prior to posting a review and whilst they have cleared their interaction with my Credit record they have not responded to any of my concerns about the accuracy of the information they provide or their approval process."
Kikka: As stated in our response to your email, we thank you for taking the time to share your feedback and experience. We wish you every success with your business.
Kind regards
Barb McGirr
Head of Customer Experience
I initially gave the service an …
I initially gave the service an excellent rating as it proved relatively simple to set up and use. However, I have now had multiple experiences of the website being unavailable and being unable to access my account. I usually pay my monthly balance off in advance of the date required on the basis that I can draw down at any time. As of today, the site has been down for two days at least and upon phoning, I am told that there is no timeline that can be given when it will be back up. They state that there is also no other way of accessing the drawdown facility! I now have two days to meet a payment deadline with one of my best suppliers. If you are going to offer a service to a business, especially small business that rely on cashflow, then should should make sure you have a reliable sytem AND back up service for when things go wrong!
May 23, 2017
Unprompted review
The overall experience has been a …
The overall experience has been a positive one and I would recommend Kikka to any business seeking capital funding.
My only gripe as such, was that the interest rate applied to our initial loan was vastly higher than the marketing material suggested. This was exacerbated by the higher rate applied in Months 1 & 2 (9.75% as opposed to 2% shown in the example calculator) which did not become evident until after our application was approved.
April 15, 2017
Unprompted review
Reply from Kikka
Thank you for the feedback, your account is continually assessed each day and the line of credit can increase and the interest rate may reduce for future drawdowns.
Quick on line service
Would recommend Kikka to anyone in small business looking for assistance with finance. Much easier and pleasant than dealing with Banks- all transactions done on line with quick and personal contact from local office.
Wayne
April 13, 2017
Unprompted review
Reply from Kikka
Glad we could help you with your business Wayne and look forward to helping more in the future.
So Far a Pleasant experience and good …
So Far a Pleasant experience and good follow up
April 12, 2017
Unprompted review
Reply from Kikka
We will endeavour to keep up with the pleasant experience so far Rob.
Focused on customer satisfaction
I was pleasantly surprised at the prompt response, efficient communication and helpful manner of all staff members.
This is a company firmly focused on customer satisfaction.
Well done.
April 5, 2017
Unprompted review
Reply from Kikka
Thank you for your kind feedback Robert, look forward to speaking with you in the future and helping you build your business.
I would recommend to anyone
Easy, prompt, compliant and customer service focused. Would recommend to anyone
March 21, 2017
Unprompted review
Reply from Kikka
Glad you found the process easy and thanks for the great feedback.
Very helpful
Good use of technology making obtaining funds a quick and easy process.
Well done Kikka.
March 17, 2017
Unprompted review
Reply from Kikka
Thanks Andrew for the positive feedback
Simplicity is the key.
Straightforward process.
Ease of use online portal superb.
Knowledgeable staff no being handballed around.
Used funds to purchase stock I wouldn't have otherwise been able to squeeze into current cash flow.
Thanks for the opportunity Kikka will be repeating the process.
March 15, 2017
Unprompted review
Reply from Kikka
Thank you for your feedback, we are glad we could help and look forward to building a great relationship between us and your business.
Reply from Kikka
Hi Rob, Glad you found the process fast and hope the funds help you grow your business.
Just what we needed!
Kikka came along at the right time for us. We are growing our business and payment from our clients is often 60+ days. In order to bring on more staff and facilitate the growth of our company we needed an injection of cash! Approval was simple and quick and the team have liaised with us along the way. Highly recommend Kikka!
March 9, 2017
Unprompted review
Reply from Kikka
Benjamin, thank you for the feedback, we are pleased you found the process quick and easy and look forward to watching your business grow.
Easy to use, quick and easy
Easy to use platform - very fast turn around!
March 9, 2017
Unprompted review
Reply from Kikka
That's great James thanks for the feedback.
Reply from Kikka
Thanks for the feedback Mary-Joy
Professional and user friendly
A wonderful professional experience that was completed without fuss.
March 6, 2017
Unprompted review
Reply from Kikka
Thank you for the very positive feedback Jesse, we look forward to continually working with you.
Great experience accessing funds to grow our business.
Really positive experience. The online review process was quick and easy and I got approved quickly and had funds available straightaway. Pretty reasonable interest rate given the type of lending too.
March 2, 2017
Unprompted review
Reply from Kikka
Jacob, thank you for the feedback, we are pleased you found the process quick and easy, we hope we have helped your business grow.
Easy, fuss free transaction Recommended
I found the whole application through to fund transfer so easy and transparent. The customer service was excellent and the process was simple. Thanks :)
March 1, 2017
Unprompted review
Reply from Kikka
Always happy to help our customers, thanks for the positive upbeat feedback Debbie, we appreciate it.
Fast
Easy and fast apply system, but I have got only a very low amount.
February 28, 2017
Unprompted review
Reply from Kikka
Look forward to your continual use of our service. The account will be continually reviewed and hopefully an increase will be available in the future.
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