A year after Kabbage Inc. launched a program that links social media and loyalty to woo small business customers, the company said it discovered some unexpected patterns.
The Atlanta-based provider of working capital for online merchants launched its Social Klimbing program last September to Kabbage account holders to existing or new Facebook fan pages and Twitter feeds, which are immediately analyzed and translated into additional capital, the company said. As merchants increase followers, activities and chatter on Twitter and Facebook, they will automatically gain access to more funds.
Small businesses that use Social Klimbing receive a merchant cash advance called a Kabbage Advance. There is no interest paid on the advance and businesses do not pay a prepayment penalty, according to the company. However, there is a fee based on how long a business keeps the capital, which can range from one to six months.
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