This week Goldman Sachs announced the opening of its new online lending platform, Marcus. Using Marcus, borrowers will be able to apply for unsecured loans of up to $30,000 to refinance their credit card debt or pay for a household project.
The new site takes an unusually casual tone for Goldman as it tries to lure in customers. “Debt happens — and it can happen to anyone. We created Marcus to help you better manage it,” the site says. “No jargon. No tricks. Just straight talk,” it promises. Initially, applications will be limited to people who get a code from Goldman in the mail. Goldman said this week that it would send the code to millions of people. The company is focusing on customers with a credit score above 660, so-called prime credit. Marcus is a significant departure for Goldman, which has traditionally avoided consumer-oriented banking, focusing instead on government and corporate clients. That has earned it a reputation as the most elite firm on Wall Street.
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