Alibaba

[WES]

http://seekingalpha.com/news/2266206-alibaba-lending-club-form-financing-partnership

Lending 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%.

[BruiserB]

I assume these loans will only be marketed to institutional investors? 


Sent from my iPhone using Tapatalk

[RazzleDazzle]

Max 2.4%? Excited

[thezfunk]

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!

[RazzleDazzle]

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.

[rawraw]

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.

I qualify for the 6.99, but my credit score was slightly over 800 when I applied. 

[AnilG]

Phase 1: Collect underpants
Phase 2: ?
Phase 3: Profit

https://www.youtube.com/watch?v=tO5sxLapAts

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!

[RazzleDazzle]

@ 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

[Fred]

Max 2.4%? Excited

If for "a few months" means 2 months, it could mean 14.4% annually, which is similar to a C-grade interest rate.

[rawraw]

@ rawraw: For real? That's awesome. Time to leverage and do hard money lending - hear patchofland returns are 12%+

I considered it but went with 0 APR credit cards instead.  The spread at 6% wasn't enough for me.  I'm probably about to close out my 0 APR balance in the next couple months and lever up again.  I'm about to go through a period of high refundable expenses so am looking for the best credit card to do it.

[RazzleDazzle]

@ rawraw: For real? That's awesome. Time to leverage and do hard money lending - hear patchofland returns are 12%+

I considered it but went with 0 APR credit cards instead.  The spread at 6% wasn't enough for me.  I'm probably about to close out my 0 APR balance in the next couple months and lever up again.  I'm about to go through a period of high refundable expenses so am looking for the best credit card to do it.

Very nice. Personally know many individuals who have built good amount of wealth just leveraging.