Amazon Lending now offers term loans from SellersFi
Amazon Lending has partnered with SellersFi to offer term loans to eligible sellers. Expand inventory, invest in marketing, or pursue other growth opportunities with competitive interest rates and flexible repayment terms.
To see if you're eligible to apply for a term loan with SellersFi, go to Growth in your Seller Central account. The Lending tab will only be visible If you’re eligible.
Complete your loan application on the lender’s website. Once your application is approved, you can provide confirmation to have funds disbursed to your bank account.
For more information about financing options, go to Amazon Lending.
Amazon Lending now offers term loans from SellersFi
Amazon Lending has partnered with SellersFi to offer term loans to eligible sellers. Expand inventory, invest in marketing, or pursue other growth opportunities with competitive interest rates and flexible repayment terms.
To see if you're eligible to apply for a term loan with SellersFi, go to Growth in your Seller Central account. The Lending tab will only be visible If you’re eligible.
Complete your loan application on the lender’s website. Once your application is approved, you can provide confirmation to have funds disbursed to your bank account.
For more information about financing options, go to Amazon Lending.
6 risposte
Seller_9RWmocRL1z265
I used direct lending by amazon couple of years ago. that was very straight forward and quick process which I would complete in seller central. Now this sellerFi third party looks just like normal lending companies, and they go through normal underwriting process which was not the case with direct lending by amazon,
Seller_8XYsOuFc80SVG
These companies charge well over the interest rate that you can obtain elsewhere by charging an upfront flat fee and then deducting as much as possible as fast as possible. They change it from twice a month to once a week almost instantly. Amazon lending was one of the reasons to stay on the platform, They keep making it harder and taking more and now took away the one tool that actually helped sellers.
Seller_NzEmZKTEdcpPZ
I agree. Amazon Lending was not a cheap option (compared to traditional bank LOCs and loans), but it was a stable one, i.e. we knew the exact schedule, APR, interest paid as it goes, not a fixed amount.
Marcus by Goldman Sachs worked the best for us because of the low APR and ability to pay principal in months 13 through 24 (2-year loan). The only thing about Marcus that we didn't like is if the sales were low at one point, they would not disperse funds when asked, i.e. that was a LOC with a constant oversight. Amazon Lending is no longer available, not sure if Marcus Amazon business is still around
Parafin and SellersFi, that Amazon switched to, are on the borderline of the predatory lending, especially if the term is longer than 6 months. Moreover, if you do the math, chances are that the loans will be paid off sooner by a month or two, making the real APR even higher. I don't recommend using these, but if you do, take the shortest period available. We are trying Parafin now just to see how it plays out, for a small amount, but I don't expect to use any of these in future, unless economic conditions will dictate otherwise.
I also don't like how Parafin is handling the approval process, asking for all sorts of documentation and financials. Amazon Lending didn't ask us for that. Neither did Marcus. And those were for a much higher amount. They simply saw what we did in terms of sales and that's all they needed. Parafin acts like they are a bank, although they perfectly know that the bank account will be locked and they will get their money. Weird and inconvenient.
Anyway, I hope Amazon will be able to find a much better partner that can offer something like what Amazon Lending and Marcus did. As of now, I strongly believe that Amazon took steps in a wrong direction by partnering with Parafin and SellersFi.
Seller_kZUOCMBionnbv
We have used SellersFi a few times and every time we do the amount of documents are never-ending. I had them delete my data and connection to Amazon. What's the point of being integrated into your amazon account and seeing your sales to make an offer if you have to redundantly provide what you would for a normal traditional loan. Marcus is just as bad, 10k a month payment went to a 10k bi-weekly payment- The rates on Parrafin are terrible. I was like is this the payday loan of Ecom? The biggest loss for Amazon small businesses was Amazon ending the lending program. We let go of 17 people and scaled back all of our product purchases for FBA and Merchant Fulfilled Products. Bring back the Lending program!
