September 25, 2020 |
Argentine e-commerce retailer MercadoLibre has received a BRL400 million ($72.6 million) loan from Goldman Sachs to expand its credit lines for small- and medium-sized companies using its platform.
MercadoLivre, as it is branded in Brazil, will provide the funds to the company's fintech division Mercado Pago to expand the capacity for working capital loans.
Mercado Pago has provided more than $1 billion in working capital credits to over 600,000 users in Argentina, Brazil and Mexico to date, the
Argentine e-commerce retailer gets $72.6 mln from the US bank to expand credit lines to small businesses