Alibaba.com Partners with Chinese Banks on Loan Offers

Posted by Joachim Bartels | Jul 26, 2014 | Alibaba, China, E-Commerce, SME Access to Finance Issue | 0 |

The Alibaba Group’s B2B e-commerce subsidiary, Alibaba.com, 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 Alibaba.com 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 – www.bsgasia.com

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