Goldman Sachs has long been an investment bank for Apple and the two companies have worked on many multi-billion dollar deals. However, the former now seems to be interested in deals valued far less than a billion dollar. According to a new report, the investment bank is in talks with Apple to offer financing to customers for its products.
The Wall Street Journal reported today that Goldman Sachs wants to offer loans to customers directly who want to purchase an Apple product and don’t want to put it credit cards that often carry high interest rates.
This will enable customers to purchase new Apple products with a loan straight from the investment bank. Goldman Sachs is reportedly looking for a deal because it wants to grow Marcus, its online consumer lending service, which offers loans at around 12 percent to shoppers during checkout.
Customers don’t have to seek out the loan themselves, it’s offered to them and they can decide whether or not they want it. The options that Marcus offers also include no fee fixed rate loans from $3,500 and up by invitation.
The scribe does mention that the talks between the two companies are still continuing and that they “could still fall apart.” Apple has not yet commented on the report. With its products getting more and more expensive, remember the base iPhone X costs $999, many customers would want easy financing to get the devices they desire. Goldman Sachs certainly wants to tap into that market.
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