Lending Club, an online marketplace connecting borrowers and investors, and Alibaba.com, a global wholesale trade platform owned by the Alibaba Group, have inked a strategic, multi-year partnership. Under the terms of the partnership, Lending Club will be the exclusive solution for point of sale business financing for up to $300,000 for Alibaba.com’s millions of U.S. business buyers.
Under the newly formed partnership and a new product called “Alibaba.com e-Credit Line powered by Lending Club,” U.S.-based business buyers can apply for working capital they need when purchasing goods from China-based suppliers on Alibaba.com.
[Image courtesy: Lending Club]