(Reuters) – Apple Inc plans to fund loans for its forthcoming Apple Pay Later service off its corporate balance sheet, the company said on Wednesday.
Apple said its treasury department will decide the exact mechanism it will use to fund the loans and those funding sources may shift over time. Apple said the loans and creditworthiness decisions will be handled by a wholly owned subsidiary called Apple Financing LLC.
(Reporting by Stephen Nellis; Editing by Chris Reese)
