Goldman Sachs is in talks with Amazon to provide loans to small business

According to CNBC, Goldman Sachs is in talks to offer small business loans to merchants on Amazon’s platform. The bank, which established a partnership with Apple to offer an iPhone-integrated credit card, has been working on a software that would allow it to plug into Amazon’s existing loan platform.

Amazon started its small business lending operation in 2011, using algorithms to help determine which businesses should receive money. The loans are for 12 months or less and range in size from $1,000 to $750,000, and as of 2017, the company issued over $3 billion in loans.

Last week, Goldman executives led by CEO David Solomon gave investors a vision for the bank’s future, which includes “banking-as-a-service.”