FinTech startup Stripe will offer loans to its existing users.
In Brief:
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The company helps businesses accept online payments.
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It launched Stripe Capital on Thursday whereby loans will be available for existing Stripe customers.
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The focus at the moment will be on loans worth $10,000-$20,000.
What does this mean?
Stripe is going after the SME market which has proved fruitful for FinTech lending – but it has the potential to expand the service to its larger customers, such as Amazon.com, in the future.
