Amazon will introduce a new credit line for the U.S. merchants on its platform in partnership with Goldman Sachs, according to a report by theothersarahh
Amazon will introduce a new credit line for the U.S. merchants on its platform in partnership with Goldman Sachs, according to a CNBC
—it's the company's first collaboration with an outside underwriter, and it's Goldman Sachs’ latest push into mainstream consumer lending. Small business sellers who sell using Amazon’s platform will “soon” receive an invitation to apply for credit lines up to $1 million through Marcus, Goldman’s consumer banking arm, CNBC reports.
Amazon had reportedly considered creating an online lending marketplace in which Goldman would have been one of many competing lenders, but ultimately scrapped the idea and opted to work exclusively with Goldman.This is the latest in a series of expansions for Goldman Sachs, which has been bulking up its consumer lending products as well as building out a robust network of corporate partnerships.
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