Alibaba Financial Lends RMB 13 Bln in H1 2012

DoNews, 7/31/12

Alibaba Financial, the operator of Chinese e-commerce company Alibaba's SME financing arm, issued a total of RMB 13 bln in small business investment loans in H1 2012. Alibaba Financial plans to open its AliLoan product to ordinary Alibaba members in the near future, allowing e-commerce businesses with good online transaction credit records to apply for loans without any need for collateral or guarantors. Ordinary Alibaba members will be able to apply for the same loans - ranging from RMB 50,000 to RMB 1 mln - as paying members.

AliLoan is a pure unsecured loan product developed by Alibaba Financial for SMEs using the AliBaba e-commerce platforms. Previously, the service was available only for paying Alibaba members in Zhejiang and Shanghai.

Keywords: e-commerce financing Internet SME H1 2012 Alibaba Group Alibaba Financial

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