Amazon started as online book store and has grown to be the worlds largest online retailer.
Amazon Lending adds Marcus by Goldman Sachs loans in US
There is a new Amazon Lending partnership with Marcus by Goldman Sachs offering a line of credit built specifically for Amazon sellers based in the US. Eligible sellers will receive invitations via Seller Central to apply with Marcus for the Line of Credit.
The Marcus Business Line of Credit offers fixed interest rates reportedly between 6.99% and 20.99%, and provides Amazon sellers with the flexibility to request funds as needed, subject to approval.
As with direct loans from Amazon Lending, the goal is to help sellers grow their Amazon business, as well as other online or offline channels. For example, sellers can use funds to cover staffing and operations costs, buy more inventory for improved cost efficiency, invest in product development and manufacturing, or expand marketing efforts to build their brands and grow their customer base. The fully digital experience makes it simple for eligible business owners to quickly see their financing options.
This partnership expands on Amazon Lending’s existing program to support seller growth. In 2019, Amazon loaned more than $1 billion to more than 14,000 US-based businesses.
The main difference between a loan from Amazon Lending and a loan from Marcus by Goldman Sachs is that Amazon Lending funded loans will have funds available within five working days, whereas Marcus by Goldman Sachs funded loans are a line of credit you can draw down as and when you need it.
Applying for Amazon Lending Line of Credit
- Sign in to Seller Central.
- If your business is eligible to apply, you’ll see a message from Amazon Lending on the homepage.
- Choose the financing option that works best for your business, up to the full amount you’re eligible to apply for.
- For loans issued by Amazon Lending, upon approval you’ll have access to funds typically within five business days.
For lines of credit issued by Marcus by Goldman Sachs, your business can request funds at any time upon approval of your application.
Amazon is famous for disrupting established industries through technology innovation and widespread, it is the largest online market in the world and an auxiliary provider of artificial intelligence and a direct broadcast platform and cloud computing platform measured in terms of revenue and market capital, Amazon is the largest Internet company in terms of revenue in the world, which is The second largest private business owner in the United States and one of the most valuable companies in the world.