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The World Is Changing As Walmart & Goldman Sachs Now Offering Online Sellers Business Credit Lines

By John F. Heerdink, Jr.

Walmart Stores, Inc. (WMT) is teaming up with Goldman Sachs (GS) to offer business credit lines to small and medium-sized businesses selling on Walmart. The offer is being made by Marcus, Goldman’s online consumer banking unit, as per reports. Initially, sellers can access lines of credit between $10,000 and up to $75,000 with fixed annual interest rates between 6.99% and 20.99% and hopes to raise the potential line of credit for qualifying customers to as high as $1 million.

“Access to affordable capital is more important than ever as businesses large and small world to adapt and evolve to serve customers and grow their businesses. Lines of credit offer businesses the flexibility to access money when they need, which could help them move fast and meet during customer demand. It could also help fund innovation as we’re all working to adapt to changing customer behavior and preferences,” Jeff Clementz, vice president of Walmart Marketplace, stated in a blog post.

Walmart’s e-commerce sales have witnessed strong growth during the pandemic with online sales surging 97% year-over-year during the second quarter. Walmart sites now feature more than 75 million items as it continues to challenge rival Amazon in the e-commerce league.

On the other hand, Goldman is also gaining from the shift to the web and going digital, especially during the pandemic imposed lockdowns. The Wall Street giant partnered with Amazon in June to offer its fixed-rate lines of credit to third party sellers. Goldman’s Consumer banking unit posted revenues of $258 million, up 19% from the same period a year ago, in the second quarter.

To learn more about Walmart (WMT) and The Goldman Sachs Group, Inc. (GS) and to continue to track their progress please visit the Vista Partners Walmart (WMT) Coverage Page and Vista Partners Goldman Sachs Group, Inc. (GS), Coverage Page respectively.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Walmart teams up with Goldman Sachs to offer online sellers business credit lines in Yahoo Finance)


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