Goldman in talks with Amazon over small business lending

Goldman Sachs is in advanced talks with Amazon to finance small business loans on the e-commerce platform, according to a report in the FT.

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Goldman in talks with Amazon over small business lending

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The project could go live as soon as March, the FT reported, citing two people familiar with the matter.

If a deal with Amazon materialises it will be the second of the Big Tech giants to join Goldman's march on Main Street, following last year's credit card tie-up with Apple.

In an investor briefing last week, Goldman Sachs said it was aiming to double consumer deposits at its online savings platform Marcus from the current $60 billion to around $125 billion within the next five years. The company also said that it wanted to grow loans and card balance from $7 billion to $20 billion within the same time frame.

Other products in the works include the launch of a digital wealth management platform later this year, and a checking account in 2021.

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