Amazon’s On-Balance-Sheet Business Loan Program Steady
February 12, 2024 | by magnews24.com
February 11, 2024
| By: deBanked Staff
Amazon’s business loan program was relatively steady in Q4 if its seller lending receivables are any indication. Those receivables totaled $1.3B, which was in line with where it has been throughout 2023. Compared to Amazon’s overall business, which generated $170 billion in sales in Q4 alone, its in-house lending business is rarely if at all mentioned.
“Amazon is committed to providing our sellers with flexible and convenient access to capital, regardless of their size,” said Tai Koottatep, director and general manager, Amazon WW B2B Payments & Lending as part of the SellersFi announcement last month. “Through this lending option with SellersFi, we’re able to strengthen that commitment and offer sellers even more opportunities to grow their business.”
“Working with the Amazon Lending team has been an exceptional experience for SellersFi,” said Leonardo Felisberto, Head of Global Business Development and Partnerships at SellersFi during that same announcement. “Their dedication to empowering sellers aligns perfectly with our mission, and together, we’ve unlocked more possibilities for e-commerce entrepreneurs. We’re hopeful this can be another step toward supporting the growth aspirations of online sellers in the US and beyond.”
Last modified: February 11, 2024