Alibaba is launching a new set of e-commerce tools designed to help struggling American small business owners to increase online sales during the coronavirus outbreak.
The Chinese e-commerce juggernaut announced it is launching three new products to assist American small businesses navigate pandemic-related difficulties, while simultaneously capitalizing on the $23.9 trillion B2B market.
As part of the new program, Alibaba is launching updated payment terms that allow users to take up to 60 days to pay invoices without interest or additional fees. This option has become especially vital as businesses struggle to get PPP funding from the federal government or else make up for lost business from temporary closures, Caplan said.
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