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Alibaba Inks Business Financing Deal With Lending Club

By TechTaffy Desk

Lending Club

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]

 

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