Google tips its toe into credit loans with Lending Club partnership
Friday, January 16, 2015/
Google has partnered with Lending Club, a large online marketplace connecting borrowers and investors, to launch a pilot program to facilitate low-interest financing to eligible Google partners.
The program uses Lending Club’s ability to provide access to credit in a highly automated, cost-efficient manner, and allows Google to purchase the loans, investing its own capital in its partner network to drive growth.
Eligible Google partners will have access to financing with low interest and no fees, enabling them to invest in business development and other growth opportunities, hire additional staff and plan for future expansion.
Google for Work has built a network of more than 10,000 partners in recent years, which help distribute its applications and services.
The pilot program is currently available to Google reseller partners in the US. Eligible partners will be able to obtain two-year loans of up to $US600,000 ($729,500) to invest in growth initiatives.