Friday, September 28, 2012

Amazon Offering Business Loans To Some Sellers

In a move that puts Amazon.com into the finance business, the e-commerce giant has apparently started to offer third party sellers on the site loan financing. According to a copy of a email sent to retailers, Amazon's new Amazon Lending program will offer up inventory financing for certain Amazon sellers--based on their selling performance record. The rates on the loans are around 13%, according to ChannelAdvisor, which first posted a copy of the email to its blog site. It's unclear how widespread the program is, and how much Amazon is investing in the new program.