Amazon extends seller lending programme to China and India

Amazon extends seller lending programme to China and India

Amazon is bringing its business loan programme to eight new countries, including China, India and the UK, according to Reuters.

Launched in the US in 2012 and also running in Japan, Amazon Lending provides short-term working capital loans to small businesses that sell through the e-commerce giant.

Later this year the service will arrive on an invite-only basis in Canada, China, France, Germany, India, Italy, Spain and the UK, Amazon Marketplace boss Peter Faricy has told Reuters.

Firms are offered three- to six-month loans of $1000 to $600,000, with Amazon making money on interest and its cut of sales made through its platform.

"We know a lot about our sellers' business and invite only those who we think are in the best position to take capital and grow," says Faricy.

EBay and Alibaba also offer vendors credit, via PayPal and Ant Financial, as a way of attracting firms to their marketplaces.

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