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Amazon unveils small business credit line with Goldman in latest tie-up between tech and Wall Street

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Amazon is introducing a new digital credit line for U.S.-based merchants with partner bank Goldman Sachs.

By gaining data on thousands of Amazon merchants, Goldman can improve its lending models and accelerate its push into Main Street finance. For most of its, the bank has focused on Wall Street clients and the ultra-wealthy. The bank started its Marcus business in 2016 to diversify from the capital markets-heavy businesses that generate most of its revenue.

Internally, Goldman executives referred to it as Project Augusta, an alliterative play on the name of its partner and a reference to the premier golf tournament. At Amazon, the project was referred to more prosaically as 3PL, or third-party launch, for the first time an outside company would lend to its sellers.

Goldman will service these credit lines, adding to the portfolio of regular Americans that the bank now interacts with.

 

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Sounds safe.

Digital Credit line?! 😮 Thats new... Never heard of that...

Amazon bank..money low intrest come and take today . tomorrow's high inflation interest

That’s a great start.

Now you’ll get buried in debt. Ooooof!

If you really can't get your money out of the bank, do you really have any money NewWorldOrder

Yes let’s just give these corporations more power over our lives, it’s funny how the dems are crying over slavery right now yet they let these compainies control our lives

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