Report: Goldman Sachs Partnering with Amazon For New Small Business Credit Line Program
In a collaboration uniting two famous names in finance and retail, Goldman Sachs (NYSE: GS) will team up with Amazon (NASDAQ: AMZN) to provide small business credit lines. That's according to a report Wednesday from CNBC, citing "people with knowledge of the project."
Amazon will begin offering such borrowing facilities to small business owners who list items on the big retailer's site. They are to receive solicitations from Goldman's Marcus online bank division for credit lines of as much as $1 million through Amazon's Seller Central merchant hub. According to the article, those solicited will be able to apply for the credit lines in a simple, two-step process.
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Source Fool.com
