Chinese Alibaba, in collaboration with financing website Lending Club, has launched a fund to allow American retailers to lend money to buy supplies on Alibaba.com.
American companies can get 5,000 - 300,000 dollars (4,400 - 260,000 euro) through Alibaba, which is Alibaba's attempt to entice international customers more quickly. This should help its eCommerce platform to speed up its international growth.
The service is called Alibaba.com e-Credit Line and will contain a trade insurance to assure customers they can get a refund if deliveries are tardy or do not match the website's description.
The news on the insurance follows earlier revelations that the Chinese authorities had reprimanded Alibaba for the sale of counterfeit products.