A financing platform launched by Alibaba Group Holdings (BABA.NYSE) in April has created an RMB14 billion marketplace, which the company’s finance arm aims to boost to RMB1 trillion within two years, Bloomberg reported, citing a general manager. The platform, Zhao Cai Bao, allows small businesses and individuals borow directly from investors – up to a maximum of 200 – after a financial institution has guaranteed the loan and made sure the money will be paid back. General manager of Alibaba’s financial arm Yuan Leiming said the average loan size has been about RMB70,000.
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