Loans underwritten by Amazon being discontinued, only using 3rd parties now
As many or most have figured out now, Amazon has made the decision to discontinue direct loans or loans underwritten by them. Here is part of their email to us:
"Our mission at Amazon Lending is to enable you to access working capital to achieve your business goals. Today, we do that by offering loans from both Amazon and from third-party finance providers."
"We regularly review our programs and services and with a growing number of third-party finance providers, we have made the decision to focus on third-party lending products and discontinue term loans underwritten by Amazon. This decision does not affect your current loan ***********. Once your loan matures **/**/****, new loans underwritten by Amazon will no longer be offered."
As a small business we relied on these loans to continue to expand our small business. I found a few post about Amazon lending, but sadly admins have locked some of them down and will not allow responses.
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
2) If you have/had a loan underwritten by Amazon, what was your experience? Would you have recommended their lending to other sellers?
3) Have you tried any 3rd party lenders recommended by Amazon and what was your experience?
Our thoughts:
For us, Amazon gave us a loan based on our sales on their platform. Something local lenders would not give us. For that we are very thankful and it has helped us expand and grow our business. The loans underwritten by Amazon were super easy to understand, we knew how much we were paying and we would recommend to small businesses.
We did try one of their recommended 3rd party lenders, Parafin, but that was a horrible and misleading experience as it was riddled with errors on Parafin's part and a lack of communication after we received the loan. I would strongly not recommend Parafin. Has anyone else used Parafin that would like to share their experience, good or bad?
Loans underwritten by Amazon being discontinued, only using 3rd parties now
As many or most have figured out now, Amazon has made the decision to discontinue direct loans or loans underwritten by them. Here is part of their email to us:
"Our mission at Amazon Lending is to enable you to access working capital to achieve your business goals. Today, we do that by offering loans from both Amazon and from third-party finance providers."
"We regularly review our programs and services and with a growing number of third-party finance providers, we have made the decision to focus on third-party lending products and discontinue term loans underwritten by Amazon. This decision does not affect your current loan ***********. Once your loan matures **/**/****, new loans underwritten by Amazon will no longer be offered."
As a small business we relied on these loans to continue to expand our small business. I found a few post about Amazon lending, but sadly admins have locked some of them down and will not allow responses.
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
2) If you have/had a loan underwritten by Amazon, what was your experience? Would you have recommended their lending to other sellers?
3) Have you tried any 3rd party lenders recommended by Amazon and what was your experience?
Our thoughts:
For us, Amazon gave us a loan based on our sales on their platform. Something local lenders would not give us. For that we are very thankful and it has helped us expand and grow our business. The loans underwritten by Amazon were super easy to understand, we knew how much we were paying and we would recommend to small businesses.
We did try one of their recommended 3rd party lenders, Parafin, but that was a horrible and misleading experience as it was riddled with errors on Parafin's part and a lack of communication after we received the loan. I would strongly not recommend Parafin. Has anyone else used Parafin that would like to share their experience, good or bad?
20 replies
Seller_kIukTwdhvntAp
"1) Does the fact that no more loans will be underwritten by Amazon affect you? "
No. I weaned myself off their loans as rapidly as possible.
"Would you have recommended their lending to other sellers?"
Since Amazon itself has stopped lending this doesn't matter at all.
"Have you tried any 3rd party lenders recommended by Amazon and what was your experience?"
No, and won't! Since Amazon undoubtedly gets some 'referral" income (kickbacks) for any loans at their recommended sources I don't want to pay Amazon more than I already do.
Right now I'm floating a balance on one credit card and paying it down as rapidly as possible (same way I did the Amazon loans) by getting money from Amazon every couple days and sending it to the card company as soon as the cash is in my account.
Seller_UmBwIdmrLdMZV
I filled out an application with Parafin, and their offer was beyond ridiculous. 16% interest with a 15% of gross receipts payback rate. Basically worked out to be something like a 20% rate for the money. And that was on a $1.3M approval amount.
We didn't use them, and definitely would recommend others to steer clear of any predatory lender advertising on Amazon.
It is ironic that Amazon is no longer lending sellers their own money back to them. Probably had less to do with default rates, and more to do with something they would get in trouble for with regulatory bodies in the future.
We are currently going into mainstream retail with our products, and preparing to scale down our Amazon efforts. The marketplace has become quite unfriendly to sellers, and the return on time spent working poor.
Cessation of their lending program (and there are so many others) is just one more reason sellers have to look to other markets to sell their products.
Seller_APRtaC6lplB3D
first Q) 100% because the loans were the best, and very easy to pay-back
2nd Q) again 100% but this doesn't matter
third Q) YES and it sinks, the rates are way to high and they lock your bank account on your Amazon side.
Seller_Zb1SSKSjU6GwM
I HAVE TAKEN MORE THAN A DOZEN LOANS FROM AMAZON LENDING - ALL GOOD! BUT THEN I TOOK ON A CREDIT LINE FROM LENDISTRY (FROM SELLER CENTRAL) - MUCH HIGHER APR THAN AMAZON LENDING HAD DONE - AND AMAZON TOOK $2000 AS A FEE FOR THE $50k LINE - SO THEY ARE DITCHING THE WORK REQUIRED TO LOAN $ AND TAKING A CUT WHEN THEY GET A SELLER TO GO WITH THE 3RD PARTY - THINK AMAZON CULTURE - AMAZON MINDSET - THAT'S WHAT YOURE DEALING WITH :)
Seller_MGY2GlZA5p9Md
Very sad.....I was actually waiting to see if I would be offered another loan as the first time was extremely helpful through Amazon lending. I did not know it was discontinued. It definitely sets someone back who is trying to scale and has a great business but no access to lending.
Seller_g9ogdFKnhOVX7
If you have a solid history of growth, revenue, earnings, you should be able to get a line of credit from a local bank or even better, a credit union. Regional or local banks are far more willing to work with you to open a LoC ime.
Seller_jXFdYBgWYVWp3
I've had a number of Amazon Lending loans over the years and I feel like it's been a positive experience. In the early days of the business, there weren't so many options for us for financing, and Amazon Lending helped us get through tight cash flow spots and fund growth. I currently have a Marcus by Goldman Sachs credit line that I got through Amazon, and I've been pleased with that too. Obviously, not having debt is generally preferable, and I think it's good to reduce debt in general, but sometimes additional capital is required to grow, and I felt like Amazon Lending was the best option available to us at the time.
Seller_C2NiEkAU4xTGT
1. Yes. We borrowed multiple times and had nothing but a good experience. (Surprising because typically anything related to Amazon is rarely a good experience).
2. Yes, as stated above, we had good experiences.
3. Haven't tried and doubt very much that we will. Their rates are very high and something about it makes me uneasy. (especially not interested in a line of credit.
Seller_Qbd0RsfZFEZBY
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
Yes, it is given us the motivation to go debt free.
We have had many Amazon Loans and our expericance was excellent and would recommend. The loans had great terms, easy to use and quick.
I have explored the options so far and they are TERRIBLE. Either the terms are predatory or the process is unsuited to ecommerce.
Seller_TvaTXH61RRGLO
1. You will receive other offers through Amazon from third-party lenders such as Marcus so try to get those, possibly they have a lower interest.
2.Amazon Lending was very good for us, we received instant funds when we needed them. Later when you build your business you can pay them off immediately without penalties and get ones with better interest such as SBA loans
3.We tried Marcus and they are very good and lower interest, however, they don't offer bigger amounts.
Loans underwritten by Amazon being discontinued, only using 3rd parties now
As many or most have figured out now, Amazon has made the decision to discontinue direct loans or loans underwritten by them. Here is part of their email to us:
"Our mission at Amazon Lending is to enable you to access working capital to achieve your business goals. Today, we do that by offering loans from both Amazon and from third-party finance providers."
"We regularly review our programs and services and with a growing number of third-party finance providers, we have made the decision to focus on third-party lending products and discontinue term loans underwritten by Amazon. This decision does not affect your current loan ***********. Once your loan matures **/**/****, new loans underwritten by Amazon will no longer be offered."
As a small business we relied on these loans to continue to expand our small business. I found a few post about Amazon lending, but sadly admins have locked some of them down and will not allow responses.
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
2) If you have/had a loan underwritten by Amazon, what was your experience? Would you have recommended their lending to other sellers?
3) Have you tried any 3rd party lenders recommended by Amazon and what was your experience?
Our thoughts:
For us, Amazon gave us a loan based on our sales on their platform. Something local lenders would not give us. For that we are very thankful and it has helped us expand and grow our business. The loans underwritten by Amazon were super easy to understand, we knew how much we were paying and we would recommend to small businesses.
We did try one of their recommended 3rd party lenders, Parafin, but that was a horrible and misleading experience as it was riddled with errors on Parafin's part and a lack of communication after we received the loan. I would strongly not recommend Parafin. Has anyone else used Parafin that would like to share their experience, good or bad?
Loans underwritten by Amazon being discontinued, only using 3rd parties now
As many or most have figured out now, Amazon has made the decision to discontinue direct loans or loans underwritten by them. Here is part of their email to us:
"Our mission at Amazon Lending is to enable you to access working capital to achieve your business goals. Today, we do that by offering loans from both Amazon and from third-party finance providers."
"We regularly review our programs and services and with a growing number of third-party finance providers, we have made the decision to focus on third-party lending products and discontinue term loans underwritten by Amazon. This decision does not affect your current loan ***********. Once your loan matures **/**/****, new loans underwritten by Amazon will no longer be offered."
As a small business we relied on these loans to continue to expand our small business. I found a few post about Amazon lending, but sadly admins have locked some of them down and will not allow responses.
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
2) If you have/had a loan underwritten by Amazon, what was your experience? Would you have recommended their lending to other sellers?
3) Have you tried any 3rd party lenders recommended by Amazon and what was your experience?
Our thoughts:
For us, Amazon gave us a loan based on our sales on their platform. Something local lenders would not give us. For that we are very thankful and it has helped us expand and grow our business. The loans underwritten by Amazon were super easy to understand, we knew how much we were paying and we would recommend to small businesses.
We did try one of their recommended 3rd party lenders, Parafin, but that was a horrible and misleading experience as it was riddled with errors on Parafin's part and a lack of communication after we received the loan. I would strongly not recommend Parafin. Has anyone else used Parafin that would like to share their experience, good or bad?
Loans underwritten by Amazon being discontinued, only using 3rd parties now
As many or most have figured out now, Amazon has made the decision to discontinue direct loans or loans underwritten by them. Here is part of their email to us:
"Our mission at Amazon Lending is to enable you to access working capital to achieve your business goals. Today, we do that by offering loans from both Amazon and from third-party finance providers."
"We regularly review our programs and services and with a growing number of third-party finance providers, we have made the decision to focus on third-party lending products and discontinue term loans underwritten by Amazon. This decision does not affect your current loan ***********. Once your loan matures **/**/****, new loans underwritten by Amazon will no longer be offered."
As a small business we relied on these loans to continue to expand our small business. I found a few post about Amazon lending, but sadly admins have locked some of them down and will not allow responses.
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
2) If you have/had a loan underwritten by Amazon, what was your experience? Would you have recommended their lending to other sellers?
3) Have you tried any 3rd party lenders recommended by Amazon and what was your experience?
Our thoughts:
For us, Amazon gave us a loan based on our sales on their platform. Something local lenders would not give us. For that we are very thankful and it has helped us expand and grow our business. The loans underwritten by Amazon were super easy to understand, we knew how much we were paying and we would recommend to small businesses.
We did try one of their recommended 3rd party lenders, Parafin, but that was a horrible and misleading experience as it was riddled with errors on Parafin's part and a lack of communication after we received the loan. I would strongly not recommend Parafin. Has anyone else used Parafin that would like to share their experience, good or bad?
20 replies
20 replies
Seller_kIukTwdhvntAp
"1) Does the fact that no more loans will be underwritten by Amazon affect you? "
No. I weaned myself off their loans as rapidly as possible.
"Would you have recommended their lending to other sellers?"
Since Amazon itself has stopped lending this doesn't matter at all.
"Have you tried any 3rd party lenders recommended by Amazon and what was your experience?"
No, and won't! Since Amazon undoubtedly gets some 'referral" income (kickbacks) for any loans at their recommended sources I don't want to pay Amazon more than I already do.
Right now I'm floating a balance on one credit card and paying it down as rapidly as possible (same way I did the Amazon loans) by getting money from Amazon every couple days and sending it to the card company as soon as the cash is in my account.
Seller_UmBwIdmrLdMZV
I filled out an application with Parafin, and their offer was beyond ridiculous. 16% interest with a 15% of gross receipts payback rate. Basically worked out to be something like a 20% rate for the money. And that was on a $1.3M approval amount.
We didn't use them, and definitely would recommend others to steer clear of any predatory lender advertising on Amazon.
It is ironic that Amazon is no longer lending sellers their own money back to them. Probably had less to do with default rates, and more to do with something they would get in trouble for with regulatory bodies in the future.
We are currently going into mainstream retail with our products, and preparing to scale down our Amazon efforts. The marketplace has become quite unfriendly to sellers, and the return on time spent working poor.
Cessation of their lending program (and there are so many others) is just one more reason sellers have to look to other markets to sell their products.
Seller_APRtaC6lplB3D
first Q) 100% because the loans were the best, and very easy to pay-back
2nd Q) again 100% but this doesn't matter
third Q) YES and it sinks, the rates are way to high and they lock your bank account on your Amazon side.
Seller_Zb1SSKSjU6GwM
I HAVE TAKEN MORE THAN A DOZEN LOANS FROM AMAZON LENDING - ALL GOOD! BUT THEN I TOOK ON A CREDIT LINE FROM LENDISTRY (FROM SELLER CENTRAL) - MUCH HIGHER APR THAN AMAZON LENDING HAD DONE - AND AMAZON TOOK $2000 AS A FEE FOR THE $50k LINE - SO THEY ARE DITCHING THE WORK REQUIRED TO LOAN $ AND TAKING A CUT WHEN THEY GET A SELLER TO GO WITH THE 3RD PARTY - THINK AMAZON CULTURE - AMAZON MINDSET - THAT'S WHAT YOURE DEALING WITH :)
Seller_MGY2GlZA5p9Md
Very sad.....I was actually waiting to see if I would be offered another loan as the first time was extremely helpful through Amazon lending. I did not know it was discontinued. It definitely sets someone back who is trying to scale and has a great business but no access to lending.
Seller_g9ogdFKnhOVX7
If you have a solid history of growth, revenue, earnings, you should be able to get a line of credit from a local bank or even better, a credit union. Regional or local banks are far more willing to work with you to open a LoC ime.
Seller_jXFdYBgWYVWp3
I've had a number of Amazon Lending loans over the years and I feel like it's been a positive experience. In the early days of the business, there weren't so many options for us for financing, and Amazon Lending helped us get through tight cash flow spots and fund growth. I currently have a Marcus by Goldman Sachs credit line that I got through Amazon, and I've been pleased with that too. Obviously, not having debt is generally preferable, and I think it's good to reduce debt in general, but sometimes additional capital is required to grow, and I felt like Amazon Lending was the best option available to us at the time.
Seller_C2NiEkAU4xTGT
1. Yes. We borrowed multiple times and had nothing but a good experience. (Surprising because typically anything related to Amazon is rarely a good experience).
2. Yes, as stated above, we had good experiences.
3. Haven't tried and doubt very much that we will. Their rates are very high and something about it makes me uneasy. (especially not interested in a line of credit.
Seller_Qbd0RsfZFEZBY
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
Yes, it is given us the motivation to go debt free.
We have had many Amazon Loans and our expericance was excellent and would recommend. The loans had great terms, easy to use and quick.
I have explored the options so far and they are TERRIBLE. Either the terms are predatory or the process is unsuited to ecommerce.
Seller_TvaTXH61RRGLO
1. You will receive other offers through Amazon from third-party lenders such as Marcus so try to get those, possibly they have a lower interest.
2.Amazon Lending was very good for us, we received instant funds when we needed them. Later when you build your business you can pay them off immediately without penalties and get ones with better interest such as SBA loans
3.We tried Marcus and they are very good and lower interest, however, they don't offer bigger amounts.
Seller_kIukTwdhvntAp
"1) Does the fact that no more loans will be underwritten by Amazon affect you? "
No. I weaned myself off their loans as rapidly as possible.
"Would you have recommended their lending to other sellers?"
Since Amazon itself has stopped lending this doesn't matter at all.
"Have you tried any 3rd party lenders recommended by Amazon and what was your experience?"
No, and won't! Since Amazon undoubtedly gets some 'referral" income (kickbacks) for any loans at their recommended sources I don't want to pay Amazon more than I already do.
Right now I'm floating a balance on one credit card and paying it down as rapidly as possible (same way I did the Amazon loans) by getting money from Amazon every couple days and sending it to the card company as soon as the cash is in my account.
Seller_kIukTwdhvntAp
"1) Does the fact that no more loans will be underwritten by Amazon affect you? "
No. I weaned myself off their loans as rapidly as possible.
"Would you have recommended their lending to other sellers?"
Since Amazon itself has stopped lending this doesn't matter at all.
"Have you tried any 3rd party lenders recommended by Amazon and what was your experience?"
No, and won't! Since Amazon undoubtedly gets some 'referral" income (kickbacks) for any loans at their recommended sources I don't want to pay Amazon more than I already do.
Right now I'm floating a balance on one credit card and paying it down as rapidly as possible (same way I did the Amazon loans) by getting money from Amazon every couple days and sending it to the card company as soon as the cash is in my account.
Seller_UmBwIdmrLdMZV
I filled out an application with Parafin, and their offer was beyond ridiculous. 16% interest with a 15% of gross receipts payback rate. Basically worked out to be something like a 20% rate for the money. And that was on a $1.3M approval amount.
We didn't use them, and definitely would recommend others to steer clear of any predatory lender advertising on Amazon.
It is ironic that Amazon is no longer lending sellers their own money back to them. Probably had less to do with default rates, and more to do with something they would get in trouble for with regulatory bodies in the future.
We are currently going into mainstream retail with our products, and preparing to scale down our Amazon efforts. The marketplace has become quite unfriendly to sellers, and the return on time spent working poor.
Cessation of their lending program (and there are so many others) is just one more reason sellers have to look to other markets to sell their products.
Seller_UmBwIdmrLdMZV
I filled out an application with Parafin, and their offer was beyond ridiculous. 16% interest with a 15% of gross receipts payback rate. Basically worked out to be something like a 20% rate for the money. And that was on a $1.3M approval amount.
We didn't use them, and definitely would recommend others to steer clear of any predatory lender advertising on Amazon.
It is ironic that Amazon is no longer lending sellers their own money back to them. Probably had less to do with default rates, and more to do with something they would get in trouble for with regulatory bodies in the future.
We are currently going into mainstream retail with our products, and preparing to scale down our Amazon efforts. The marketplace has become quite unfriendly to sellers, and the return on time spent working poor.
Cessation of their lending program (and there are so many others) is just one more reason sellers have to look to other markets to sell their products.
Seller_APRtaC6lplB3D
first Q) 100% because the loans were the best, and very easy to pay-back
2nd Q) again 100% but this doesn't matter
third Q) YES and it sinks, the rates are way to high and they lock your bank account on your Amazon side.
Seller_APRtaC6lplB3D
first Q) 100% because the loans were the best, and very easy to pay-back
2nd Q) again 100% but this doesn't matter
third Q) YES and it sinks, the rates are way to high and they lock your bank account on your Amazon side.
Seller_Zb1SSKSjU6GwM
I HAVE TAKEN MORE THAN A DOZEN LOANS FROM AMAZON LENDING - ALL GOOD! BUT THEN I TOOK ON A CREDIT LINE FROM LENDISTRY (FROM SELLER CENTRAL) - MUCH HIGHER APR THAN AMAZON LENDING HAD DONE - AND AMAZON TOOK $2000 AS A FEE FOR THE $50k LINE - SO THEY ARE DITCHING THE WORK REQUIRED TO LOAN $ AND TAKING A CUT WHEN THEY GET A SELLER TO GO WITH THE 3RD PARTY - THINK AMAZON CULTURE - AMAZON MINDSET - THAT'S WHAT YOURE DEALING WITH :)
Seller_Zb1SSKSjU6GwM
I HAVE TAKEN MORE THAN A DOZEN LOANS FROM AMAZON LENDING - ALL GOOD! BUT THEN I TOOK ON A CREDIT LINE FROM LENDISTRY (FROM SELLER CENTRAL) - MUCH HIGHER APR THAN AMAZON LENDING HAD DONE - AND AMAZON TOOK $2000 AS A FEE FOR THE $50k LINE - SO THEY ARE DITCHING THE WORK REQUIRED TO LOAN $ AND TAKING A CUT WHEN THEY GET A SELLER TO GO WITH THE 3RD PARTY - THINK AMAZON CULTURE - AMAZON MINDSET - THAT'S WHAT YOURE DEALING WITH :)
Seller_MGY2GlZA5p9Md
Very sad.....I was actually waiting to see if I would be offered another loan as the first time was extremely helpful through Amazon lending. I did not know it was discontinued. It definitely sets someone back who is trying to scale and has a great business but no access to lending.
Seller_MGY2GlZA5p9Md
Very sad.....I was actually waiting to see if I would be offered another loan as the first time was extremely helpful through Amazon lending. I did not know it was discontinued. It definitely sets someone back who is trying to scale and has a great business but no access to lending.
Seller_g9ogdFKnhOVX7
If you have a solid history of growth, revenue, earnings, you should be able to get a line of credit from a local bank or even better, a credit union. Regional or local banks are far more willing to work with you to open a LoC ime.
Seller_g9ogdFKnhOVX7
If you have a solid history of growth, revenue, earnings, you should be able to get a line of credit from a local bank or even better, a credit union. Regional or local banks are far more willing to work with you to open a LoC ime.
Seller_jXFdYBgWYVWp3
I've had a number of Amazon Lending loans over the years and I feel like it's been a positive experience. In the early days of the business, there weren't so many options for us for financing, and Amazon Lending helped us get through tight cash flow spots and fund growth. I currently have a Marcus by Goldman Sachs credit line that I got through Amazon, and I've been pleased with that too. Obviously, not having debt is generally preferable, and I think it's good to reduce debt in general, but sometimes additional capital is required to grow, and I felt like Amazon Lending was the best option available to us at the time.
Seller_jXFdYBgWYVWp3
I've had a number of Amazon Lending loans over the years and I feel like it's been a positive experience. In the early days of the business, there weren't so many options for us for financing, and Amazon Lending helped us get through tight cash flow spots and fund growth. I currently have a Marcus by Goldman Sachs credit line that I got through Amazon, and I've been pleased with that too. Obviously, not having debt is generally preferable, and I think it's good to reduce debt in general, but sometimes additional capital is required to grow, and I felt like Amazon Lending was the best option available to us at the time.
Seller_C2NiEkAU4xTGT
1. Yes. We borrowed multiple times and had nothing but a good experience. (Surprising because typically anything related to Amazon is rarely a good experience).
2. Yes, as stated above, we had good experiences.
3. Haven't tried and doubt very much that we will. Their rates are very high and something about it makes me uneasy. (especially not interested in a line of credit.
Seller_C2NiEkAU4xTGT
1. Yes. We borrowed multiple times and had nothing but a good experience. (Surprising because typically anything related to Amazon is rarely a good experience).
2. Yes, as stated above, we had good experiences.
3. Haven't tried and doubt very much that we will. Their rates are very high and something about it makes me uneasy. (especially not interested in a line of credit.
Seller_Qbd0RsfZFEZBY
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
Yes, it is given us the motivation to go debt free.
We have had many Amazon Loans and our expericance was excellent and would recommend. The loans had great terms, easy to use and quick.
I have explored the options so far and they are TERRIBLE. Either the terms are predatory or the process is unsuited to ecommerce.
Seller_Qbd0RsfZFEZBY
So I had a few questions for the community or anyone who has utilized lending through Amazon:
1) Does the fact that no more loans will be underwritten by Amazon affect you?
Yes, it is given us the motivation to go debt free.
We have had many Amazon Loans and our expericance was excellent and would recommend. The loans had great terms, easy to use and quick.
I have explored the options so far and they are TERRIBLE. Either the terms are predatory or the process is unsuited to ecommerce.
Seller_TvaTXH61RRGLO
1. You will receive other offers through Amazon from third-party lenders such as Marcus so try to get those, possibly they have a lower interest.
2.Amazon Lending was very good for us, we received instant funds when we needed them. Later when you build your business you can pay them off immediately without penalties and get ones with better interest such as SBA loans
3.We tried Marcus and they are very good and lower interest, however, they don't offer bigger amounts.
Seller_TvaTXH61RRGLO
1. You will receive other offers through Amazon from third-party lenders such as Marcus so try to get those, possibly they have a lower interest.
2.Amazon Lending was very good for us, we received instant funds when we needed them. Later when you build your business you can pay them off immediately without penalties and get ones with better interest such as SBA loans
3.We tried Marcus and they are very good and lower interest, however, they don't offer bigger amounts.
