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Marcus by Goldman Sachs Line of Credit for Amazon Small Business Sellers

by News_Amazon

Amazon Lending is announcing a new partnership with Marcus by Goldman Sachs which allows them to offer a Marcus Business Line of Credit built specifically for Amazon sellers based in the U.S. Starting today, eligible sellers will receive invitations via Seller Central to apply with Marcus for the Line of Credit. We are starting this new program gradually.

The Marcus Business Line of Credit offers competitive, fixed interest rates and provides Amazon sellers with the flexibility to request funds as needed, subject to approval. As with our direct loans from Amazon Lending, the goal is to help sellers grow their Amazon business, as well as other online or offline channels. For example, sellers can use funds to cover staffing and operations costs, buy more inventory for improved cost efficiency, invest in product development and manufacturing, or expand marketing efforts to build their brands and grow their customer base. The fully digital experience makes it simple for eligible business owners to quickly see their financing options.

This partnership expands on Amazon Lending’s existing program to support seller growth. In 2019, Amazon loaned more than $1 billion to more than 14,000 U.S-based businesses. Since 2016, Marcus by Goldman Sachs has offered simple, transparent, and valuable products and tools designed to help consumers reach their financial goals, and now they are taking that same approach to this line of credit product for small businesses selling with Amazon. As of May 2020, Marcus held more than $80 billion in global deposits and $7 billion in lending balances, all while serving millions of customers with the commitment to be on their side. Goldman Sachs has long supported small business with efforts such as its 10,000 Small Businesses program, an investment to help entrepreneurs create jobs and economic opportunity by providing access to education, capital and business support services.

For more information, visit Amazon Lending.

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Seller_awJTjFnJZyDgf
In reply to: News_Amazon's post

I’ve mentioned a line of credit option every single time they’ve sent an Amazon Lending survey. Glad to see them start one.

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Seller_QCZdBVVEFZYmY
In reply to: News_Amazon's post

Used to take advantage of line of credit offers from Amazon in the past. Always paid back on time (last one early), account in good standing, but the offers stopped. Hopefully this means we’ll get another one soon. I know some people say the terms don’t make sense but the loans definitely helped us grow our business.

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Seller_EPJQ1xQmX18hq
In reply to: News_Amazon's post

Amazon replaced Bank of America with Goldman, because BoA faced so many defaults and didn’t want to make any more loans.

If Amazon suspends your account, you probably won’t be able to pay back the loan.

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Seller_4k63tI5Lg1s8e
In reply to: News_Amazon's post

when can chinese seller gain the credit mounts?
Thank you

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Seller_hwmro1aPPIeE1
In reply to: News_Amazon's post

pleaseeeeeeeeeeeee…i want to be invited.

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Seller_KfopqDBzgq36R
In reply to: News_Amazon's post

Requirements to be eligible for this offer? Do I have to be selling a certain amount first?

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Seller_z8WTuaU5v4dPD
In reply to: News_Amazon's post

When will this roll out and how do you become eligible?

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Seller_6we6JlLz0iF2P
In reply to: News_Amazon's post

The last loan we took was smashed to pieces and resulted in losses by Chinese competitors selling on amazon from China via FBA, and undercutting our price for similar products.

Not a chance in the opposite_of_heaven will we take a loan with amazon again.

Sorry to be so blunt, but US-based businesses should still be very weary of the Chinese presence here on amazon selling directly from China into FBA. The next thing you know Amazon will be loaning money to the Chinese-based sellers as well!

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Seller_NedDESxCGw9f6
In reply to: News_Amazon's post

Anyone know what the requirements are? Sales, metrics, etc?..

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Seller_M04MjNuWAA1Xz
In reply to: News_Amazon's post

Similar to credit cards, borrowers who take out the credit lines will be charged interest rates ranging from 6.99% to 20.99%.

I have a credit line from my local bank at a much lower interest rate. Before any seller jumps in, simply because Amazon makes it easy, do some research first…

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