 anybody get this email from amazon?
i just read this article....did anyone get an invite from amazon?
Companies that provide small-business loans to online sellers, like Kabbage and iwoca, may have a new competitor, as Amazon is getting into the lending business.
The new program, called Amazon Lending, is accessible by invitation only. Amazon is telling customers about the lending program through emails to “pre-qualified” sellers, according to news reports.
ChannelAdvisor, an e-commerce solutions company for larger online sellers, posted the email Amazon sent to customers on its blog on Thursday. The message notes that pre-qualified Amazon sellers can log in to their accounts with their Selling on Amazon Primary Account IDs and passwords to request a loan. If they are approved, Amazon will make the funds available within five business days.
Amazon will deduct monthly payments from sellers’ accounts automatically, the email states. It also notes that the offer for the loan expires 30 days after the email was received.
According to news reports, interest rates for the loans can be up to 13 percent.
Scott Wingo, ChannelAdvisor’s CEO, says Amazon is offering some online sellers loans of up to $800,000. Amazon officials have not said what makes sellers pre-qualified.
Amazon did not respond to press inquiries about its new program by press time.
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