16:59 30th Jun, 2015
Amazon To Offer Loans To Small Seller To Help Buy Inventory
This invite-based program is now available in India and 7 other countries.
Popular e-commerce giant Amazon has come up with a new program where small sellers and new businesses will be provided with loans.
This new business loan programme was until now offered in United States and Japan.
But, now, it seems that the same service is all set to enter into India along with other countries like Canada, China, France, Germany, Italy, Spain and the UK.
Adding more in to this, the new program is part of the Amazon Lending which was founded 2012 and it offers three to six month loans to mainly help new sellers buy inventory.
However, the program is not open to all sellers on Amazon's platform and is meant to be an exclusive invite-only service.
Having this said, Amazon would be taking repayments directly from the seller's earning based on internal data.
It is worth noting that Amazon’s competitors also offer similar services, including both eBay and Alibaba, to help build out their platform.
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