Walmart (WMT) is getting into business lending — with some help from Goldman Sachs (GS).
Beginning on Tuesday, small and medium-sized businesses that sell on the retail giant’s Marketplace will see invites to apply for business lines of credit offered by Marcus, Goldman’s online consumer banking unit. It’s part of a new partnership between the big-box retailer and the Wall Street giant.
“Access to affordable capital is more important than ever as businesses large and small world to adapt and evolve to serve customers and grow their businesses,” Jeff Clementz, vice president of Walmart Marketplace, said in a blog post.
Walmart.com sellers invited to apply for a business line of credit from Marcus will see a notification in the Seller Center dashboard.
Initially, sellers can access lines of credit between $10,000 and up to $75,000. A source familiar with the matter told Yahoo Finance that, over time, Marcus hopes to