Alibaba and Lending Club to Form Financing Partnership
The companies behind two of the hottest stock market debuts of 2014, Lending Club and the Alibaba Group, are teaming up — to help American companies buy parts from Chinese manufacturers.
The two announced on Tuesday that they would form a partnership to provide financing for manufacturers in the United States to buy products and supplies through the Chinese marketplace Alibaba.com. Through Lending Club, the giant of the online marketplace lending industry, those companies can line up from $5,000 to as much as $300,000 for each purchase order.
Visit nytimes.com to read full article.
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