Alibaba will provide loans to U.S. users

Alibaba announced on Tuesday that the company will join the world's largest P2P net loan platform Lending Club, to buy Chinese products to provide loans to U.S. buyers. This will help to promote the expansion of overseas markets Alibaba group.
Alibaba group said in an e-mail statement, the project will allow U.S. businesses to apply for up to $300 thousand in short-term loans for the purchase of products from the Chinese supplier Alibaba website. It is reported that the longest period of the loan for 6 months, the monthly interest rate ranging from 2.4% to 0.5% in fixed.
Alibaba group chairman of the board of directors Ma Yun (micro-blog) said last month, with the Alibaba group has limited the company's growth potential in China domestic dominance, the company is trying to reach 2 billion overseas consumers, and 10 million small enterprises. Alibaba group in September last year just conducted an initial public offering, the company's current market value has exceeded the sum of Amazon and eBay.
In order to help new customers to use the platform of Alibaba, Alibaba will help review the supplier and delivery, and can be allocated directly according to the buyer's choice.
Effective financing
Michael Lee, director of global marketing and business development at Alibaba Lee (Michael), said, we want to be as effective as possible to millions of U.S. buyers through the Alibaba website to do business financing. Our mission is to do business wherever possible."
Founded in 2007, LendingClub is the world's first P2P net loan platform, the company has conducted an initial public offering last year. Since its inception, Lending Club has attracted the attention of Silicon Valley and Wall Street. The company makes a profit by charging fees and service charges. Its main products include 3 year and 5 year unsecured consumer loans, the average interest rate of up to 14%. From individual investors to hedge funds and banks, investors are funding the platform.
Alibaba is now the top shopping site in Russia and Brazil, but the company does not have an employee in the market. TNS, a market research firm, said in September last year that Alibaba, the world's fastest selling channel (AliExpress), is now Russia's largest shopping site.
Alipay is currently overseas in more than 100 countries with 17 million 900 thousand active users, and more than 2000 overseas merchants to accept.