Marbridge Daily

<- May 03, 2012 ->

Alibaba to Provide Loans for SME TMall Stores

Southern Daily, 5/03/12

Chinese e-commerce conglomerate Alibaba Group's financial services subsidiary Alibaba Financial ( recently announced the nationwide launch of a small loan product, TMall Credit Loans, which has issued a total of RMB 4.6 bln in loans to date. Small e-commerce companies in dense industrialized areas, including Guangdong, Zhejiang, Shanghai, Jiangsu, Beijing, Fujian, and Shandong are the core focus of the loan program.

Alibaba Financial also said that it had provided "major support" to 2,000 TMall merchants, making them eligible for up to RMB 10 mln in credit loans.

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