Wildberries will provide online loans to sellers

Wildberries, the largest Russian online trading platform, has announced that it is launching an online lending service for sellers. The press service of Hartak informed that the loan granting process will be carried out completely online. Sellers will be able to submit a bid from their personal account on the platform and receive funds within a day.

Wildberries credit service takes into account the specifics of doing business in the markets to accurately assess the reliability of borrowers. The terms of the loan are as follows:

• Loan amount: from 100,000 to 20 million rubles,
• Loan term: 3 to 12 months,
• The interest rate is from 1.5% per month, it is calculated for each seller separately, based on his score results.
• One-time loan disbursement commission: from 0 to 2%, depending on the score results,
• No collateral is required.

“Sellers use credit to grow their business. According to a study prepared jointly with the analytical center NAFI (НАФИ), the need for lending to sellers is 1.5 times more than the volume of current loans. In order to make lending available to sellers, we have developed our own fintech service, which will allow fast and completely online processing of loan applications," said Sergey Savin, head of credit products in the fintech direction of Wildberries.