+86 15546883080 (China mainland) +852 6554 1700 (Hong Kong)  [email protected]

Amazon suspends loan repayments amid coronavirus

Amazon announced that it would temporarily suspend seller loan repayments, in the prospect of declining sales during the coronavirus pandemic.

Repayments under the Amazon Lending program will be paused until April 30. Interest would not accrue during that period.

This program has offered sums between $1,000 – $750,000 to merchants looking for capital to acquire inventory, expand their product lines and advertise on Amazon, reports LiveMint.com.

More than 20,000 merchants have gotten loans from Amazon, the company said in 2017. By the end of 2019, Amazon stood to receive $863 million from sellers to whom it provided financing through the lending program, according to a company filing. The loans’ terms range from three to 12 months, carrying interest rates from 6% to 19.9%.

More Amazon news

China stands up to protect intellectual property

China stands up to protect intellectual property

E-commerce sites must guard intellectual property or be shut in China China plans to tighten oversight of e-commerce platforms like Alibaba Group over the infringement of intellectual property rights.                              Companies would lose their trading...

read more
Record-breaking congestion in California ports

Record-breaking congestion in California ports

No quick fix for the shipping crisis 44 freight ships are stuck awaiting entry into California's two largest ports. This is the largest congestion since the beginning of the pandemic. The queue is a result of the labor shortage, COVID-19-related disruptions, and...

read more
E-commerce is too reliant on social media

E-commerce is too reliant on social media

Consumers don’t buy on social media, new survey indicates E-commerce entrepreneurs are relying heavily on social media to drive sales, but consumers don’t shop there very often A new survey said consumers don’t buy on social media, despite the fact that small...

read more