Alixuan LendingClub to United States buyers with loans

According to foreign media reports, Ali Baba in the United States exclusive cooperation with LendingClub, aims to buy Chinese goods on Alibaba’s United States provided consumer loans. Under the agreement, LendingClub will provide up to $ 300,000 in short-term loans, usually for a few months, lending rates between 0.5%-2.4%, dramatically reducing United States buyers loan costs. LendingClub lending risk by foundations, endowments, pension funds and other institutional investors to bear. Due to a shorter loan term, to reduce the overall risk. In addition, the company is also looking for the United Kingdom, Australia, Germany, and Canada offer similar loan service provider market. Which lay the foundations for overseas expansion.