Amazon.com (AMZN) "The Bank"?
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Amazon.com (NASDAQ: AMZN), the largest online retailer in the U.S., is dipping its toe into the lending business. According to reports, the company is offering loans to some of its online sellers, some of whom lack upfront cash to buy inventory which could then be sold on Amazon.com.
If the venture, dubbed Amazon Lending, pans out it could be a big step for the retailer since it would bridge a lending gap for cash strapped sellers, allowing them to stock and sell more, while at the same time adding to Amazon's bottom line by increasing volume and adding interest income.
Amazon is pre-qualifying sellers based on their performance on Amazon's marketplace, and seller can sign up for the loans through their existing Amazon merchant accounts, according to an email sent out by Amazon.
If the venture, dubbed Amazon Lending, pans out it could be a big step for the retailer since it would bridge a lending gap for cash strapped sellers, allowing them to stock and sell more, while at the same time adding to Amazon's bottom line by increasing volume and adding interest income.
Amazon is pre-qualifying sellers based on their performance on Amazon's marketplace, and seller can sign up for the loans through their existing Amazon merchant accounts, according to an email sent out by Amazon.
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