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Goldman Sachs Essay

250 Words1 Pages
For the first time, Goldman Sachs has entered the consumer loan industry. Goldman announced that it will offer uncollateralized personal loans to consumers who are saddled with credit card debt. Goldman plans to target “prime” borrowers with credit scores of 640 or better. The company plans to offer personal loans of up to $30,000 and borrowers can pay off the loans in two to six years. The new business is named Marcus of Goldman, named after the founder of the company, Marcus Goldman.

Goldman Sachs hopes to add to its portfolio of $124 billion in deposit accounts. Goldman Sachs stated that loans through Marcus of Goldman allow borrowers to customize their accounts, including setting their own payment dates and choosing their own loan amounts.
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