Bank of Google — Open for Business

Before you go, we thought you'd like these...
Before you go close icon

Google Inc. (NASDAQ: GOOG), the second most valuable tech company in the world, today launches a program in the United Kingdom that will help its customers finance online advertising purchases. The service is expected to launch in the United States within the next few weeks.

Under the program Google will offer credit ranging from $200 to $100,000 a month to pay for customers' use of the AdWords program. AdWords raked in the bulk of Google's 2011 advertising revenue of $37 billion.

Interest rates on the credit cards will be 8.9% in the U.S. and 11.9% in the U.K.

Google's program is similar to one launched last week by Amazon.com Inc. (NASDAQ: AMZN), under which Amazon makes loans to independent sellers wanting to offer products at the Amazon Marketplace.

At the end of June, Google had about $43 billion in cash and short-term investments available, and this credit program, like Amazon's, is an effort to put at least some of that cash to work.

Paul Ausick

Read Full Story

Markets

S&P 500 2,384.20 -4.57 -0.19%
DJIA 20,940.51 -40.82 -0.19%
NASDAQ 6,047.61 -1.33 -0.02%
DAX 12,438.01 -5.78 -0.05%
NIKKEI 225 19,196.74 -55.13 -0.29%
HANG SENG 24,615.13 -83.35 -0.34%
USD (per EUR) 1.09 0.00 0.01%
USD (per CHF) 0.99 0.00 0.01%
JPY (per USD) 111.51 -0.02 -0.01%
GBP (per USD) 1.30 0.00 0.03%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job 20 Folks Recall Shocking Interview Moments That Made Them NOT Want the Job
Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going
Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport Nature Gets Revenge On Safari Hunter Who Killed Elephants And Lions For Sport