Posted on 02/02/2015 11:41:30 PM PST by Citizen Zed
Need a loan? No problem -- if you're doing business on Alibaba.com.
Tech darling Alibaba has partnered with U.S.-based Lending Club to make it easier for American businesses to buy from Chinese suppliers.
The program will let small businesses in the U.S. "apply in under five minutes" for a loan of up to $300,000 toward purchases from suppliers on Alibaba's wholesale e-commerce platform. Interest rates can be as low as 0.5 percent.
(Excerpt) Read more at m.wfmz.com ...
Thanks, but no thanks.
The way the Chinese loan sharks are twisting Congress’ arms to ban guns in the US, no thanks.
This is the result of Dodd/Frank and Elizabeth Warrens consumer protection crap. Small banks are disappearing under regulatory over kill opening up a key lending segment to the Chinese and others off shore
You know you are near the top of a boom (as in boom-bust) when distributors offer to carry the unsecured debt of their retail outlets. This signal is even louder given the low rate of interest.
The feature of this particular offer to make note of is that in this case the cheap money is courtesy of the equity markets, which in turn are funded by government money-printing, like the Fed’s support of share prices. But in this cycle, the money-printing is coordinated by many central banks, the US, China, Japan, Europe. This amplifies both the boom and the bust. When the economy breaks and heads down, it will go around the world. There will be weeping and gnashing of teeth.
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