Amazon To Start Offering Loans To Small Sellers In China

Amazon is a company that you probably think of when you want to buy something online, like books, electronics, clothing, furniture, and etc. However it seems that Amazon will be expanding their business into the small business loans area. According to a report from Reuters, the company will soon start to offer small sellers a business loan.

This is apparently part of the company’s strategy to get new vendors on board as well as to grab more market share. As you might know, not every product sold on Amazon is housed/stocked by Amazon. There are some companies who use Amazon as a platform as an alternative channel to sell their goods.

In some cases we suppose some businesses might need a little extra capital which is where this program comes into play. However according to the report, it is an invite-only program for now and will not be open to everyone. The service is also expected to be launched in countries such as China where local Chinese retailers such as Taobao offer up some stiff competition.

Other countries that this service will be rolled out apart from China includes Canada, France, Germany, India, Italy, Spain, and the UK. Amazon is not the first company to do something similar. Companies such as eBay’s PayPal and Alibaba have rolled out similar services to its sellers in the past as well.

Tyler Lee
Categories: Web
Tags: Amazon