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Lending Club & Alibaba Join Forces To Help Small Businesses Get Funding


From www.nytimes.com -

“This partnership is going to make a pretty big difference in terms of U.S. business’ ability to buy goods from China,” Renaud Laplanche, the chief executive of Lending Club, said in a telephone interview.

And it is a unifying of two of the most talked-about online marketplaces of the moment.


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Editor’s Notes:

  • For Lending Club, the move is meant to help further a move into new kinds of lending.
  • For Alibaba, the hope is that wholesale customers will use Lending Club's financing platform in order to make orders at least once a year.
  • The loans for this business union will be called “Alibaba.com e-Credit Line, Powered by Lending Club", this union will certainly bring more of a trust factor to Alibaba in the eyes of Americans who were on the fence about the company.

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