Alibaba Launches Interest Free Financing for U.S. Companies

China’s largest e-commerce company, Alibaba, launched a new interest free offering for U.S. small businesses;“Rather than a low-cost loan, the new product is a trade financing solution embedded directly into our marketplace,” Kivanc Onan, a payments executive at Alibaba, said in an email to American banker; Alibaba has a partnership with online lender Kabbage but with the company not originating new loans this product will allow for MSBs to access 60 days of interest free financing; to pay for the financing, Alibaba plans to charge a 2.2% fee to participating companies that sell items on its platform, though that fee is being waived during the pandemic. American Banker

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.