Parafin Cash Advance screwed my business. I got the loan from them for a 9 month loan, with bi-weekly payment. Guess what they told me that I have not read terms and conditions. They are withdrawing every week, and according to them that they would withdrew 15% of my gross revenue. I have told me that Amazon takes close to 25% if gross revunue, and I get paid for that sales after two (2) weeks. The are debiting every week, and this week twice a week. In two months of the loan I have already paid them more than 65% of my loan, and I have been over drafted by the bank four times.

Again I got the loan for 9 months, with bi-weekly payment. Now my cash flow has gone down the drain, as they have drained my cash flow.

I have contacted Parafin, and their customer service don't have a real answer. They have told me that some one would contact me via Phone. I have called them up over 9 times, and they have not yet get back to me. Amazon needs to cease doing business with them. I have over drafted 5 times from my bank because of the scam I got placed into.

Parafin needs to realize that if they are taking of 15% of sales, and amazon takes 25% commission, and the cost of goods. Where is my profit >? I am literally getting scammed, and Amazon is helping them But Amazon has the balls to call me their "partner".

It's not poor communication from Amazon or Parafin but killing my business.

Please do not get an MCA from Parafin.

I have fallen into another massively unsettling situation with Amazon as a Seller. Bear with me while I try to explain this coherently.

This all begins with a good problem - our company is scaling rapidly, and we took advantage of the Parafin Cash Advance and the Amazon Lending Term loan.

All was working well until we had a restriction placed on our business checking account for unrelated reasons, which ultimately caused an Amazon disbursement / regular deposit to be returned. At this point, everything went sideways;

- Amazon unlinked our bank account from Amazon.com and Amazon Pay, but kept our bank account linked to Amazon.ca and Amazon.mx

- In an attempt to reassign the same/only bank account we've ever had associated with the Seller Account, while logged in as the primary and only Seller Central account user, anytime I clicked "manage" or "add a deposit method" I recieved the warning "Forbidden. You do not have the rights to perform this action."

- Amazon Support attempted to blame this issue on 1. not being the primary user and thus not having admin permissions, which I proved to be untrue. 2. needing to simply click "add a new deposit method", which is in theory is a nice option, but it rendered the same error message, but is also not solution because are not seeking to add a new bank but simply assign the bank already associated with the account 3. needing to click the giant "assign" button next to "unassigned marketplaces", like I hadn't already done that daily for weeks.

- After establishing this is not a user error, and escalating through all of my Amazon POCs, numerous Seller Support cases and phone calls, Amazon tells me it's due to a Marcus line of credit. WE NEVER EVEN APPLIED FOR A MARCUS LINE OF CREDIT.

- Then, it was a matter of the Parafin cash advance restricting my abilities to manage banking accounts because Parafin requires verification of our bank account before AMAZON can reestablish my permissions. I proceeded to get all approvals from Parafin in writing (might I add Parafin never struggled to withdraw payments from our bank account, which leads me to assume they never restricted my banking management permissions/abilities). I provide all email communications with Parafin to Amazon stating we're in good standings, that Parafin is using the same account, that Amazon can lift restrictions and then CRICKETS. I have heard nothing for weeks, and only recieve automated responses from Amazon Developer Support team?!?!

- The Amazon Lending term loan ultimately went into default because there was no bank account attached to our Seller Central Amazon.com or Amazon Pay marketplace, which prompted Amazon to pay itself off with our growing Seller Central account balance. It's unclear if Amazon Lending would have placed a restriction on our ability to manage our banking assignments, but now that the loan is paid in full, we'd like to assume we're out from under their thumb!?!

NONETHELESS, we are still getting nowhere. No one can help identify WHY we're not able to reassign the only business bank account we've EVER had associated with Amazon.com and Amazon Pay marketplaces. The bank account that is currently FULLY FUNCTIONING for Amazon.mx and Amazon.ca

All the while, we're watching our Seller Central account balance increase, inventory dwindle, and remain confused as to whether we should even ship more inventory to Amazon because will they ever pay us?

This is impacting our ability to pay suppliers and keep doors open. This entire process is starving our business.

I have spoken to absolutely everyone I can think of - POCs within Amazon, friends and referrals that work at Amazon, numerous tickets, and phone calls. Tagging every possible Amazon Support person that works on Forums here in the hopes they can help.

Again, we're at a loss for what to do and might lose our business.

@Seller_hme3Wbydd1ihr@Seller_q5VULSdzfEHW0@Seller_nS0jcFQNDLG3e @Seller_pAPBCLhysbW5T@Seller_1KYLYkgAlu4xX

Case IDs 15305979301, 15192596741

Greetings fellow sellers,

We've been in business here on Amazon over six years. Over that time we have taking out several Amazon Lending Loans. We have been pretty happy with those loans and when Amazon offered us a Parafin "Cash Advance" we figured we would give it a shot. Big mistake. We were offered 50k but the rates are pretty high. We settled for 20k with a $2300 fee. We were lead to believe this "advance" would be paid back over a period of 9 months by a 6% deduction from our payouts.

First of All, it's pitched as a cash advance of your bi-weekly payout. After a few weeks we realized they were taking money every week. We called to complain but couldn't speak with anyone who could do anything about it. A few days latter we got an email saying that we were being switched to bi-weekly.

Then there is a matter of the percentages. These people seem like they take whatever they want out of your account whenever they want. Like I said, we were lead to believe they were "advancing our payout", but from what I can gather it looks like they may be taking a percentage of gross sales, not net, which isn't really our "payout" . Even then the numbers aren't quite adding up. Remember that 6% I referenced? Well, our last payout they debited a little over 20% from our checking account.

We are two months into what was supposed to be a 9 moth repayment schedule. In those two months the loan is over 50% paid off! At this rate it will be paid off in 3- 4 months? Think I'll get a reduction on that $2300 fee? I wouldn't hold my breath. Even though it was really high, I decided I could deal with a $2300 fee for 9 months. But 3-4? That's absolutely ridiculous and I never would have consented to that.

Before accepting the advance I searched the forums about them but I couldn't find much. I guess I figured we have had such good experiences with Amazon Lending that we would give them a chance based off of that. So I figured I would share our experience here in case anyone else in the future is considering doing business with them and trying to research. If you have an offer from Parafin let it expire. You'll probably have an offer from Amazon Lending soon after.

I made the mistake of getting a small advance from Parafin in mid-September and chose the 9 month repayment plan at 6%, and it was paid off in 2.5 months. Parafin sent me an email on Jan 8th saying my advance was paid off, and they are still trying to deduct 2% of my sales from my bank account even though they told me my payments were finished. Every time I call it sends me to voicemail and nobody ever calls back. How is Amazon letting a company as shady and as predatory as this take advantage of Sellers?

Good morning!

Is Amazon still offering loans directly or is everything now through outside sources such as Goldman Sachs or Parafin?

I ask because I normally get refinance invites and I have not received any. I have paid off 65% of this loan on time with growth in sales and inventory size.

Doesn't make sense why we haven't received a refinance invite from Amazon Lending but we still get monthly emails from Parafin and Goldman Sachs.

Please advise.

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?

Hello everyone,

I need to update my bank account details (because the bank updated it) but I couldn't because I took a loan from Parafin (account locking). Is there any options to change it?

Thank you

hello good day every one so i recieve an sad email about amazon lending they say its not going to offered any more lending under amazon side, which is very sad, was happy with them since the rates and the payments are very flexible, now its say only by 3 party offer, which i try and was very unsatisfied. we make a loan by parafin its say 15% of every sales was looks ok but after used was a nightmare, they charge 15% of all sales so they not count amazon keep like 25% plus any retuns refunds which from amazon are crazy and unfairs so we just recieve like 45% of the money make in the platform minus the cost of the items, operations and all where its the business? and amazon dont care about us :( at all, now days here on amazon are very unfair with us as sellers we also need to be care as much as customers too..........

Herkese selamlar,

Aralık 2022'den bu yana Türkiye merkezli bir şirket olarak MX pazarında satış yapıyor Şubat 2023'e kadar Amazon'dan MX gelir vergisi tahsil edilmedi. Ancak Şubat 2023'ten itibaren %20 MX gelir vergisi stopajı eklendi.

Şu ana kadar toplam stopaj paylaşımı yaklaşık 3400 ABD dolarıdır. Sadece paranın kesilmesiyle kalmadım, aynı zamanda onun satışından %20 kesinti yapmak için mağazamı kapatmak zorunda kaldım ki bu benim kârımdan fazla.

Bu konuları satıcı desteğiyle görüşmeyi denedim, ancak hiçbir şekilde yardımcı olmadılar. Bana, MX piyasasında aktif bir listelemem varsa, orada envanterim olsun veya olmasın, MX gelir vergisi ödemem değişikliği söylemeyip duruyorlar. Bu tamamen yanlıştır. Nasıl bilebilirim?

Aralık 2022'den Şubat 2023'e kadar neden stopajım yapılmadıysa tatmin edici bir cevap veremediler. Bana SSS'lerden robotik kopyala-yapıştır mesajları göndermeye devam ettiler. Eğer doğruysa (MX üzerinden satış yapan satıcının MX gelirini ödediği), o zaman neden benden daha önce ücret alınmadı? MX-Gelir fiyatlarının Mart ayından sonra başladığına dair kanıt bu mesajın sonuna kadar tamamlandı.

Sorun şu ki, neredeyse 8 tanesini istiyorum ve toplam zararım (kar-zarar dahil) yaklaşık 23.000 USD'yi aştı. Yöneticim sürekli olarak güncelleme yapan e-postalarından rahatsız olmuş. Ondan son mesaj, kendisinin ve ekibinin artık vergi işlemleriyle ilgili görünmesinin olmadığını ve sorun çözüldükten sonra vergi ekibinin benimle doğrudan ilgilenmesini beklemem gerektiğini belirtti. Ayrıca planladığım toplantıları da iptal etti.

Millet, emek harcamak için çok çaba harcıyorum, okyanusun derinliklerine batıyor. Bu stopajlar nedeniyle her gün potansiyel kârımı kâr ettiriyorum ve ticari kredi kartlarını ödeyemiyorum. Yöneticim, rutinleri olan bir sorun olup olmadığını teyit etmesine rağmen artık benimle iletişim kurmuyorsa, üst yönetime nasıl ulaşılabilirim?

Forumda sesi duyabilen var mı? Umutsuzca yardım arıyorum.

Okuduğunuz için teşekkürler,

Adem

HESABIM 37 GÜNDÜR İNCELEME 8 MARTTA İNCELEMEYE ALINCI 5 NİSANDA İNCELEME BİTTİ BENDE BU SÜREÇTE HERHANGİ BİR ŞEY İSTEMEDİ 5 NİSANDA HESABIMDAKİ PARANIN ÖDEMESİNİ TALEP ETTİM SONRA BUNU İPTAL EDİP TEKRAR İNCELEME BAŞLATTI VE ŞUAN HALA BENDEN BİR ŞEY İSTEMİYOR BU NEDEN OLMUŞ OLABİLİR