http://seekingalpha.com/news/2266206-alibaba-lending-club-form-financing-partnershipLending Club is teaming up with Alibaba to offer short-term loans to US businesses buying Chinese products: up to $300K, typically for a few months, at rates of 0.5%-2.4%.
I assume these loans will only be marketed to institutional investors?
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Max 2.4%? Excited
So, I could use this in my buy cheap crap from China, park it in an Amazon warehouse and sell it at a markup plan? If I pick crap that moves quick I could totally leverage myself a new business!
Well said. In case what I said above was passed as facetious - I did mean it as a great opportunity for these eCommerce websites , many are run by kids from garage (think "promotional products").
That being said, this is an advertising ploy / hype. Prosper advertises I can get 6.99% loan - really? with excellent credit I was offered a 15% APR. No thank you.
Phase 1: Collect underpants
Phase 2: ?
Phase 3: Profit
https://www.youtube.com/watch?v=tO5sxLapAts
@ rawraw: For real? That's awesome. Time to leverage and do hard money lending - hear patchofland returns are 12%+
@Anil: Hilarious! come up with a business venture and I'm in