Lending request
has anyone had problems receiving lending request
Lending request
has anyone had problems receiving lending request
0 respuestas
Seller_3RoLAuCqvb4QW
FORTUNE (magazine) Mar 6, 2024: Amazon will no longer underwrite loans for sellers in its $140 billion marketplace business
“The increased uncertainty of business repayment ability” by sellers “necessitates higher inspection of our on–balance sheet credit/lending products,” noted the document viewed by Business Insider.
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Quite many sellers borrowing from Amazon either do not sell or sell at profit margin lower than loan rate. They watched too much Youtube ads and came to Amazon with a dream. When they woke, they are already a victim.
If Amazon did not know its third-party sellers' profit margin was low before, they should know that now.
Seller_3RoLAuCqvb4QW
Amazon spokesperson Deniz Sonmez confirmed the news in an email to Fortune.
“We regularly evaluate our programs and services, and have made the decision to discontinue term loans underwritten by Amazon for Amazon sellers in the U.S. and U.K.,” the spokesperson said in a statement. “This change will begin to take effect March 6, 2024.”
Topher_Amazon
Hi @Seller_sSLONyYj6fB5S as you may have already seen, I'm just tagging to confirm that Amazon Lending has made the decision to focus on third-party lending products and discontinue term loans underwritten by Amazon.
While term loans underwritten by Amazon will no longer be available, eligible sellers can explore a number of financing solutions from trusted third-party partners to help grow their business. You can check if you’re eligible to apply for these financing solutions by selecting Lending, on the Growth menu in Seller Central.
Topher
