Alibaba, Lending Club form financing partnership

Feb. 03, 2015 3:44 AM ETAlibaba Group Holding Limited (BABA)BABA, LCBy: Yoel Minkoff, SA News Editor7 Comments
  • Alibaba (NYSE:BABA) is teaming up with Lending Club (NYSE:LC) to provide sales financing to small U.S. businesses buying from Chinese suppliers.
  • The new venture, to be called "Alibaba.com e-Credit Line, Powered by Lending Club," will offer loans of up to $300K, typically for a few months, at rates of 0.5%-2.4%.

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