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
Amazon has launched a Brand Referral Bonus program
Amazon entices brands to drive more traffic to their listings with Brand Referral Bonus program Amazon has launched a Brand Referral Bonus program to reward brands for driving sales on its marketplace. It gives participating brands an average 10% credit on sales...
Boost repeat purchase rate of your Private Label product with QR-codes
Qr-code as an instrument to promote Private Label product sales Repeat purchase rate is of utmost importance in e-commerce. Startup Batch comes with a simple yet effective solution: using QR-code on a product to promote sales. Batch has raised $5 million in seed...
Facebook publishes new report on the evolution of eCommerce
Facebook report: mobile is quickly becoming the main shopping tool Facebook has published a new report which looks at how consumer habits have changed as a result of the pandemic, and the key trends that are driving the big shifts in how people find and purchase...
