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Alibaba Grants RMB 30 Mln in Small Loans

Sohu IT, 6/24/10

A source close to Chinese e-commerce company Alibaba has revealed that since the establishment of its Alibaba Small Loan Company, Alibaba has granted over RMB 30 mln worth of loans to over 3,000 sellers in Hangzhou, Zhejiang Province. The source said that Alibaba plans to continue expanding its small loan business throughout the second half of the year.

Editor's Note: In a phone interview with Marbridge, a representative at the Alibaba Small Loan Company confirmed the report. The company was established earlier this month; for more background, please see "Alibaba Establishes Small Loan Company," MD 6/08/10 issue.

Keywords: e-commerce Internet Alibaba

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