Wildberries marketplace has launched its own online lending service for sellers, the site said in a statement.
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The loan issuance process will be carried out entirely online. Sellers will be able to make shipments through their personal account on the platform. The decision to approve the request will take on average one business day.
To provide loans to sellers, Wildberries registered its own microcredit company, which is registered in the register of the Bank of Russia.
A loan can be obtained in the amount of 100 thousand to 20 million rubles, for a period of 3 to 12 months. The interest rate starts from 1.5% per month and will be calculated individually based on the scoring results. Legal entities and individual entrepreneurs who have been doing business with Wildberries for at least six months may apply for a loan.
The service uses internal Wildberries statistics to create a model for assessing the reliability of borrowers, which is formed using artificial intelligence technologies.
“Traders use loans to expand their businesses. According to a study we prepared jointly with the NAFI analytical center, the need for loans of market sellers is 1.5 times higher than the current volume of loans,” said Sergei Savin, head of credit products in the fintech direction of Wildberries, whose words are quoted in the message.
The platform will gradually open access to the loan service to sellers. Currently, 20 thousand sellers can apply for a loan.
Author:
Anastasia Marina
Source: RB
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