The biggest small enterprise lender that you could be not even know exists is Amazon Lending. The tech behemoth loans out billions of {dollars} yearly to small companies on its market.
In the present day, we realized a few new fintech partnership Amazon is getting into into with SellersFi (previously Sellers Funding). SellersFi is a seven-year-old small enterprise lending fintech targeted on e-commerce platforms. They supply e-commerce retailers with working capital, funds options and extra.
Now, they are going to doubtless be ramping up their lending enterprise with this new partnership with Amazon. Retailers on the Amazon market may have entry to credit score strains as much as $10 million.
Again in 2022, Amazon introduced they’d partnered with Lendistry, so they don’t seem to be new to fintech partnerships right here. It isn’t clear whether or not the SellersFi partnership replaces Lendistry or is additive.
Regardless, this factors to a broader development within the verticalization of small enterprise lending. Amazon has deep information of each one of many retailers promoting on its platform and is in an ideal place to measure credit score danger.
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SellersFi and Amazon Accomplice to Provide Credit score Strains to Sellers
www.pymnts.com
SellersFi has partnered with Amazon to supply strains of credit score to Amazon sellers. This providing will present these sellers with entry to credit score strains of as much as $10 million by way of Amazon Lending to assist their shops.
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