Amazon is launching a program which will provide loans to new businesses. The idea is to help them get started and gain market share.
Reuters reports that from later this year, selected sellers in Canada, China, France, Germany, India, Italy, Spain and the UK will be eligible for the loans.
The service has been in limited testing in the US and Japan for a number of years. It offers three to six month loans of $1,000 to $600,000 to help new sellers buy inventory.
Amazon takes repayments directly from the seller’s earnings.
Amazon’s competitors also offer similar services, including both eBay and Alibaba, to help build out their platform.
We’ve asked Amazon for more information on the program and will update if we hear back.
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