Alibaba officebiz3The Alibaba Group’s B2B e-commerce subsidiary,, announced a partnership agreement with seven Chinese banks to offer unsecured business loans to small and medium-sized enterprises (SMEs) from mainland China.

SMEs using Alibaba’s OneTouch trade-services platform can borrow from RMB 1 million (US$161,000) up to RMB 10 million (US$1.61 million) depending on company’s prior six-month export history and creditworthiness, which Alibaba gathers through OneTouch – an Alibaba-affiliated import/export service company. Other suppliers who do not use OneTouch can also apply for smaller loans under the programme, but are limited to a lower amount.

Source:  Business Strategies Group Hong Kong  –