Goldman in talks with Amazon over small business lending

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.

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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