Citi, Walmart introduce the Bridge built by Citi platform to Walmart suppliers

Walmart (WMT) and Citi (C) are collaborating to introduce the Bridge built by Citi platform to Walmart’s 10,000 small- and medium-sized businesses in their US-based supplier network. Bridge is a digital platform that connects SMBs with a diverse group of more than 70 lenders that provide qualifying businesses with loans of up to $10M, the companies said. They added: "Through a single loan request form, Walmart suppliers can interact with a broad group of lenders located across the United States. Once a request is submitted, the platform seamlessly connects suppliers with multiple potential lenders that can evaluate their requests. This provides for a more efficient loan process for both the suppliers and lenders and empowers suppliers by offering them greater choice, convenience, and access to capital. It also provides lenders with the potential to expand their reach beyond their immediate local market and diversify their lending businesses. In preparation for this launch, the platform’s lender base has grown from 18 banks in 2021 to more than 70 lenders nationwide currently on the platform."