It’s called Huabei, which means “just spend.” This microlender has gone big in China by letting people borrow as little as a few bucks at a time.
By offering as little as a few bucks at a time to new borrowers, a microlending business of Chinese technology giant Ant Financial Services Group has quietly swelled into one of China’s largest providers of personal credit lines.
The microlender is called Huabei, which means “just spend.” It was originally created four years ago as a way for users of Ant’s payments network Alipay to fund purchases on shopping websites run by Ant’s affiliate, Alibaba Group Holding Ltd.
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