Amazon.com is launching a new business offering loans to some of its online sellers, according to reports, in a move that could boost the growth of its giant internet marketplace.
The new program is called Amazon Lending and sellers on the company's marketplace have been sent emails offering loans from Amazon Capital Services, a unit of Amazon, claims Scot Wingo, chief executive of e-commerce advisory firm ChannelAdvisor.
An Amazon spokesmen declined to comment to Reuters.
Getting into the lending business is a big step for Amazon that will expose it to more credit risk but may also fuel more sales by merchants on its marketplace. Amazon takes a cut of those sales, so revenue and profits could get a boost.
Some online merchants lack upfront cash to buy all the inventory they would like to sell on Amazon.com, especially heading into the crucial holiday season. Banks and other sources of loans for merchants pulled back in the wake of the financial crisis, leaving an opening for alternative sources of financing, according to Mr Wingo.
"Some of these businesses are only constrained by cash flow," Mr Wingo said. "These spot loans will help these folks grow by getting them extra cash to buy more product."
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