News Formal

The president of $20 billion Stripe explains the three-pronged master plan as it opens a new service for small business loans

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Stripe is perhaps best known as a payments processor, but it's getting into the moneylending business with Stripe Capital.

Stripe, the $20 billion payments processing startup, is getting into the moneylending business with Stripe Capital.

John Collison, president of Stripe, says that Stripe Capital is designed to help small internet companies — which often have trouble getting small business loans — get the working capital they need to grow. Collison says that Stripe Capital is generally best-suited for making loans of $10,000 to $20,000. Those loans are backed by a banking partner, though Collison declined to share who that partner might be.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Information's business ambitions, behind Oatly's riseThe Information explains why it's tapping Spotify and BuzzFeed vets as it tries to grow the business beyond its $400-a-year subscriptions.
Source: BusinessInsider - 🏆 729. / 51 Read more »