Amazon Lending plays its game a little different from other short-term lenders in many ways. One of its prime examples is how the program limits itself to the applicants. In simpler words, everyone can not apply for Amazon picks sellers itself to apply for the loan. In case of a seller being shortlisted, they receive an offer from Amazon, all of it based on the seller’s performance and customer merits.
Amazon identifying potential sellers itself helps Amazon make aimed investment in smaller business that are performing well and have the statistics to progress. In this way, such businesses are rewarded themselves without having to do much.
Easy to Apply
Applying to Amazon business loan isn’t a lengthy process as all the details about a seller’s personal and account information lies with Amazon itself, therefore once you’re offered a loan, all you have to click a few more times to get the approval.
Loan Amount as Per Seller
Another advantage that Amazon Lending features is the range of the amount it offers to the seller to upgrade the inventory. A seller can lend from as low as thousand dollars to a massive amount of seventy-five hundred thousand, depending on their performance on Amazon.
When it comes to how to get a business loan as an Amazon seller, a seller’s credit score might worth more with a conventional lender but it’s not the same with Amazon. While much about the eligibility criteria at Amazon Lending is not disclosed, however, it is known that what matters at Amazon is the customer metrics and sales that can gets seller the offer.
Short Waiting Duration
Unlike other traditional short-term business loan lenders, waiting for an approval can vary from a day to several weeks and once approved, the funds are received within the same day.