360Buy Obtains RMB 5 Bln in Credit for Supplier Financing

Ebrun, 11/28/12

Beijing-based B2C e-commerce firm 360Buy has officially disclosed details of its "Supply Chain Finance Service," announcing it has secured over RMB 5 bln in credit lines from Bank of China, China Construction Bank, Communications Bank of China, Industrial and Commercial Bank of China, China Merchants Bank, and Huaxia Bank.

Suppliers can obtain financing from participating banks after applying to the 360Buy program and obtaining bank authorization. 360Buy also announced yesterday it will provide some financial support for suppliers on its own.

Editor's Note: For more background on this topic, please see "360Buy to Provide Supply Chain Financing Services" MD 11/20/12 issue.

Keywords: e-commerce financing Internet B2C 360buy

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