eMAG, the largest online retailer in Romania, and lender Idea::Bank, controlled by Polish group Getin Holding, launched the first loan with no interest made available to the retailers developing their business on eMAG’s marketplace.
A pilot project is being tested for 135 sellers, who can access credit lines totaling over EUR 3.8 million.
eMAG will fully cover from its own resources, under certain conditions, the interest of the credit lines contracted by sellers through eMAG Seller Credit powered by Idea Bank.
"In order to improve our results and to provide our eMAG customers with a better experience, our partners need to invest in people, products and services. They need fast financing solutions to stay competitive in an extremely dynamic market. We have invested in the development of a program to help them increase their sales and, together with our partner Idea :: Bank, we provide them with a financing solution that they can access, under certain conditions, without incurring any costs,” said Florin Filote, director of eMAG marketplace.
eMAG had over 16,000 sellers on its marketplace, in May this year, and planned to reach 40,000 sellers by the end of 2020.
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