Loan for Free Market Vendors

Loan for Free Market Vendors

Loan for Free Market Vendors – Free Market is in a phase of innovation on its platform, it will begin to make personal loans, releasing money to registered and active sellers in its product sales platform online.

The amounts of the loans provided by the Free Market must vary from R $ 5 thousand to R $ 350 thousand to finance the working capital of the sellers. These values ​​were released on Tuesday the 30th, by the company itself and also by the mass media.

Loan for ML Sellers

Loan for ML Sellers

According to information from the Free Market communication, the amounts borrowed can be paid in up to 12 months. The refund will be automatically debited from the sellers account alongside the platform. Interest will be applied up to 3.1% per month. The loan to the micro and entrepreneurs of the Free Market can only be possible thanks to the partnerships with the Lopesu Bank and the financial Money Plus.

For now, only that has a history of sales with more than six months on the platform can request the loan for sellers. Approval and release is subject to credit analysis at Serasa and SPC and other external protection agencies.

What is the credit offer for sellers?

Mercado Livre, which brings together product announcements for sale on the Internet, launched on Tuesday (30) offer of credit to sellers of the site and who use the card machines of the group, reinforcing its capacity to generate business at a time when the rivalry in the sector grows and the economy returns to advance.

The company, through the payment unit Market Pole, began testing the product six months ago in Brazil, after launching the offer of credit to sellers in Argentina and Mexico last year. The goal, in addition to attracting sellers, is to give credit to their buyers in the coming months as well.

Loan with the Market Pole

During the tests in Brazil the “Free Market Loan” made a credit offer that attracted 18 thousand customers, who took out R $ 250 million in loans, the executive said. The volume of customers is more than half of the 25,000 customers that have contracted loans with the Market Pole where the service was launched, said Martin de los Santos, senior vice president of Latin American Credit Market.

The loan offer has a partnership in Brazil with Lopesu Bank, in Rio Grande do Sul, and with MoneLoan. In addition to the partnership in the granting of loans, Mercado Livre set up a fund to raise funds for the business, Oliveira said. According to Santos, so far the average default rate of operations in the region is 2%.

The launch of the loan product comes a few days after PureSepo made the largest IPO of a Brazilian company since April 2013, moving around US $ 2.3 billion. Another Brazilian payment processor, Stone, also plans an IPO in the coming months, sources told Reuters this month.

Diversification Free market

Free Market has diversified operations in recent months, offering free freight, partnering with bookstores such as Saraiva and Cultura and also testing tools for selling vehicles through the site, which may also involve the granting of loans and loans to sellers and buyers.