Amazon Lending....

[user3657]

This is new to me. I had an offer today and after reading the terms jumped on it. I "applied" about 6:30pm and by about 8:30 I had received an email saying the loan along with my weekly funds were disbursed.

My normal disbursement would be this sunday. I was just wondering if anyone knows if I will still get that disbursement or is my new disbursement schedule starting today?

[jeffweico]

Was this on a stealth account, or your real account?

My GUESS is if the email said the funds were disbursed, then it would have changed the disbursement day to today. Does the balance still show up on your Seller Central screen?

[derp1234]

Curious, can you give ball park figure on what they approved you for?

[zoneout]

Do you have to have a pro seller acct for this funding?

[kockedoff]

Originally Posted by user3657

This is new to me. I had an offer today and after reading the terms jumped on it. I "applied" about 6:30pm and by about 8:30 I had received an email saying the loan along with my weekly funds were disbursed.

My normal disbursement would be this sunday. I was just wondering if anyone knows if I will still get that disbursement or is my new disbursement schedule starting today?

what offer? never heard of this before... can you cut paste part of email which you received from amz ?

[Kelly441]

I had this on one of my accounts. They loaned my $25,000. You get it with your next disbursement.

[rsot]

What's their interest rate? That's not a petty amount!

[kockedoff]

wait ! amazon give you cash ? and you repay with interest... ???

[user3657]

They gave me 1k for 6 months....about 40$ in interest or I could of done 4 months for about 23$ interest. Ive been offering co-workers 30$ for 1k for 30days haha....so this is a better deal.

[MICKY H]

Dear <large amazon seller>,
Amazon is always looking for ways to help our sellers grow. We are excited to announce a new service: Amazon Lending by Amazon Capital Services, Inc.

Based on your Amazon selling performance you are pre-qualified for a loan up to <XXX see below>. Use these funds to purchase inventory and increase your sales on Amazon.com.

How the Amazon Lending loan works:

Register for a loan. Sign in with your Selling on Amazon Primary Account holder user id and password.
If approved, the funds will be advanced to your Amazon Seller Account within approximately five business days, and we will initiate a disbursement to your bank account on file.
Your Amazon Lending monthly payment will be automatically deducted from your Amazon Seller Account.
Go to Amazon Lending to complete your loan registration. You will need to sign in with your Selling on Amazon Primary Account holder user id and password. You may also sign into your Seller Central Account, look for the Amazon Lending offer in the right hand column of the home page and follow the links to “Learn more” and “Register.”

If you have any questions, please contact us at support@amazoncapital.com.

This offer expires on <30 days after email received>. Registration for Amazon Lending is by invitation only.

[GreenBean]

Originally Posted by kockedoff

wait ! amazon give you cash ? and you repay with interest... ???

Started last year. However invite only. Time factor to accept. Response time of approval/denial usually quick.

Offers have been quiet until recently. Restarted some weeks back.

Wonder if they (amazon) are looking forwards to selling season of the holidays?

Loans were either 4 months at 10.9% or 6 months at 12.9%

Possible to pay-out earlier too.

[n8zzz]

Originally Posted by Kelly441

I had this on one of my accounts. They loaned my $25,000. You get it with your next disbursement.

Woah there horsey, don't give out too much false hope. You're a bigger seller than a lot of the guys on here. Most people won't qualify for 25k ^^

[jeffweico]

I have actually seen these offers on a couple of my stealths and have never responded. I thought for sure Amazon would be asking for SSN's and other information. I mean, who is going to loan you money without verification of your identity and credit history?

Even if they don't, I would be worried about the legality of accepting such a loan.

[user3657]

Originally Posted by jeffweico

I have actually seen these offers on a couple of my stealths and have never responded. I thought for sure Amazon would be asking for SSN's and other information. I mean, who is going to loan you money without verification of your identity and credit history?

Even if they don't, I would be worried about the legality of accepting such a loan.

I would like to know if they pulled my credit or will report it?

[GreenBean]

Originally Posted by user3657

I would like to know if they pulled my credit or will report it?

Did you READ the fine print?

Suggest you do a free credit score report as soon as possible.

Always be careful with your finances.

See exactly where you stand in the fiscal world as soon as possible.

[GreenBean]

Here is info to consider regarding a credit report.

Note, the site is for the USA only.

People in the US are entitled to one free report from the three agencies every 12 months.
This entitlement is given under Federal Law.

How to Get Your Free Annual Credit Report from Experian

There are two other agenices. Experian should do to start off.

Good Luck

[rsot]

Originally Posted by user3657

I would like to know if they pulled my credit or will report it?

For 25k I would think yes - credit pulled.

[GreenBean]

user3657 did not state that amount though.

It was Kelly441.

They do a credit check.

[Kelly441]

I don't think they checked my credit, it was horrible

[RosieTosie]

It's a money talks scenario Kelly, you are obviously pulling in big enough sales for Amazon to be as sure as they ever need to be that they can get their money back, they don't need to do a credit check, they know you can afford it from your sales.

[user3657]

They dont pull credit. I've gotten 7 loans since this post..not a single credit pull.

[Kelly441]

On any of the 7 did they call for additional information or deny any of them? What was the highest amount you asked for?