Interesting multiyear and exclusive partnership
Alibaba.com and peer-to-peer financing site Lending Club have inked a strategic partnership designed to get more U.S. businesses to buy inventory from the e-commerce giant’s wholesale marketplace. The two will offer a new financial service called the Alibaba.com e-Credit Line that will let American companies apply for credit lines of $5,000 to $300,000 through the site, which they can then use to make purchases there. The program will eventually expand beyond the U.S.