SAO PAULO: Goldman Sachs Group Inc is extending a 400 million reais ($72.61 million) credit line to finance e-commerce firm MercadoLibre in giving loans to small and mid-sized companies in Brazil, according to a statement on Thursday.
The loans will be extended through MercadoLibre's financial services arm, Mercado Pago.
Goldman Sachs said the credit line is one of the biggest it has provided to a financial startup in Brazil. Last year, Goldman Sachs extended a $125 million loan to MercadoLibre in Mexico.
Mercado Pago operates in Brazil, Argentina and Mexico.
In April, Mercado Pago said it was extending a 600 million reais credit line to help small businesses weather the economic plunge caused by the coronavirus pandemic.
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