Sept. 22, 2020
By Jeff Clementz, Vice President, Walmart Marketplace
Walmart.com is increasingly becoming customers' primary shopping destination, and our expanded Marketplace assortment is a big reason why. Last quarter, our Marketplace delivered triple-digit growth, and today we're announcing a new partnership to help our Marketplace sellers grow their businesses.
Starting today, eligible Marketplace sellers will be invited to apply for lines of credit offered by Marcus by Goldman Sachs. Access to affordable capital is more important than ever as businesses large and small work to adapt and evolve to serve customers and grow their businesses.
Initially, approved sellers will have access to lines of credit from Marcus between $10,000 - $75,000, and plans are to substantially increase the maximum line amount available in the future. The rates are competitive, with the most creditworthy businesses qualifying for the lowest rates.
Lines of credit offer businesses the flexibility to access money when they need, which could help them move fast and meet surging customer demand. It could also help fund innovation as we're all working to adapt to constantly changing customer behavior and preferences.
We often say we want to use our size and scale for good, and giving small businesses access to inexpensive capital is one way we're doing this. Healthy small and medium businesses are critical for our communities to succeed, and we will continue looking for ways to help them navigate these unprecedented times.
To learn more about this program, click here.
Walmart Inc. published this content on 22 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2020 04:04:02 UTC