Strapped for cash? Well there’s another lender in town: Amazon. I’m sure you’ve heard the name, but you’ve probably never considered Amazon as a small business lender. The e-commerce giant recently launched Amazon Lending, which offers direct financing to its marketplace sellers. Through Amazon’s Capital Service division, the program offers an alternative option for small businesses to get credit, enabling the merchants to purchase additional inventory even if cash flow is low.
How’s it work?
Sellers apply for loans directly from their Amazon accounts, and if approved, the funds will be advanced to the seller’s Amazon account within five business days. Loan repayments are taken directly from the seller’s account as they are due.
Keep in mind, this “Amazon cash” is not cheap. …