Conceiving Credit Like Never Before

Human beings are known for many different things, and yet they are best known for their ability to grow on a consistent basis. This tendency, in particular, has allowed us to hit upon some huge milestones, with technology appearing as a unique member of the squad. The reason why technology’s credentials are so anomalous is largely down to it unprecedented skill-set, which ushered us towards a reality that we couldn’t have imagined otherwise. Nevertheless, if we look beyond the surface, it will become clear how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. This revolution, in turn, will go on to scale up the human experience from every conceivable sense, but even after achieving such a monumental feat, technology will somehow continue bringing all the right goods to the table. The same has only grown on to look more and more evident over the recent past, and truth be told, Amazon’s latest move can very well make it bigger and better moving forward.

Amazon has officially launched a new financing solution called merchant cash advance program, which is designed to provide sellers with growth capital on flexible terms. Conceived in conjunction with Parafin, a U.S.-based provider of growth capital for sellers, the program hands you the capital in just two days, and it does so at capped interest rates, no fixed term, no personal guarantee, no credit checks or excessive paperwork, no collateral, and no late fees. As for repayment, it is determined by a fixed percentage of the seller’s Gross Merchandise Sales (GMS). Hence, in an event where the seller has low sales or no sales at all, they won’t be obligated to pay up their due installment. According to certain reports, the program lets you access capital worth anything between $500 and $10 million.

“Amazon is committed to providing convenient and flexible access to capital for our sellers, regardless of their size,” said Tai Koottatep, director and general manager of Amazon WW B2B Payments & Lending. “Today’s launch is another milestone in strengthening Amazon’s commitment to sellers, and builds on the strong portfolio of financial solutions we already provide. This latest offering significantly expands sellers’ reach and capabilities, and broadens their access to capital in a flexible way—one that helps them control their cashflow, and by extension, their entire business.”

Set to go live from early 2023, the merchant cash advance service will only be available to sellers who have been selling on Amazon for at least three months, and although it’s one of Amazon’s many financial solutions, it is expected to help sellers a lot in terms of expanding their businesses, protecting margins, developing new products, growing inventory, and managing cashflow rather efficiently.

 

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