Alibaba.com Partners with Lending Club to Offer Loans to SMEs in the U.S.

Posted by Joachim Bartels | Feb 10, 2015 | Alibaba, Lending Club, Lending Solutions, SME Access to Finance Issue, United States | 0 |

The Alibaba Group’s B2B e-commerce arm, Alibaba.com, announced the formation of a partnership with the Lending Club, a San Francisco-based lending company listed on the New York Stock Exchange, to provide credit loans to small- and medium-sized businesses (SMEs) in the U.S.

U.S.-based SMEs can now apply for credit lines from US$5,000 to US$300,000 through Alibaba.com to finance purchases of goods from Chinese suppliers. Named Alibaba.com e-Credit Line, the new service is provided by Lending Club and aims to provide efficient supply-chain financing at lower costs than banks and conventional lenders.

Source: Business Strategies Group Hong Kong – www.bsgasia.com

About The Author

Joachim Bartels

Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.

The BIIA library is approaching 10,000 news items and best demonstrated practices. BIIA members receive regular news alerts on key developments in the industry and the regulatory environment. The BIIA readership is widespread: between 4 to 5 thousand unique visitors access BIIA.com per month.