Kabbage Links Social Media With Cash Advances
How much is a Tweet or a ‘Like” on Facebook really worth?
For some small business owners, it could mean having the much-needed funds to grow a fledgling shop.
Since its launch in 2009, Kabbage has provided 30,000 businesses with a total capital of $22.5 million, according to the company. North of 30% of the funding has come through the Social Klimbing program, Gorlin said.
Kabbage offers lines from $500 to $40,000. After initially offer between $2,000 and $12,000, Gorlin said the company is currently testing lines up to $100,000. The rates vary depending on the size of the advance. Gorlin said funds can be in a user’s account in less than 10 minutes.