Tokyo, October 20, 2015 – Rakuten Card Co., Ltd. announced that from today it will begin accepting applications for a new type of loan for Rakuten Ichiba merchants called Rakuten Super Business Loan Express.
Rakuten Super Business Loan Express is a loan exclusively for merchants on Rakuten Ichiba. Only merchants that satisfy the criteria of Rakuten Card are able to apply for this loan type. Eligible merchants will not need to submit financial statements, tax return forms or other screening documents. The entire process from the online application to loan execution (deposit of funds) can be carried out in as little as one day (when using an account with Rakuten Bank), providing a simple and speedy loan process. The interest rate will be set between 8.5% and 14.5% with a maximum loan amount of five million yen. Additionally, loan repayments will be debited from the merchant’s sales through Rakuten Card’s R-Card Plus payment system*1 which eliminates the need for merchants to ensure funds are debited from their settlement account.
Rakuten Card has provided the Rakuten Super Business Loan service to Rakuten Ichiba merchants since April 2013. This additional loan type will ensure that merchants who satisfy Rakuten Card’s criteria will be able to procure funds with simpler and quicker procedures.
The execution of Rakuten Super Business Loan Express type loans will begin from Monday, November 2, 2015.
Rakuten Card will utilize the assets of the Rakuten Ecosystem to contribute to the business expansion of all businesses participating in the Rakuten Group, and going forward Rakuten Card will aim to provide this service to other businesses other than merchants on Rakuten Ichiba.
*1 R-Card Plus is an automatic credit card payment processing service for Rakuten Ichiba merchants. Rakuten, Inc. makes affiliate contracts with card companies in place of the merchants.