Amazon Loan. Is it worth it?
I’m a LTD based in U.K. and only sell in U.K… All items are FBA.
Received an offer of loan from Amazon. Is it really worth it? Will I have to supply everything about my suppliers etc?
I’ll love to hear your view but more importantly from someone who’s taken a loan from Amazon in the past? I need to hear the ‘cons’ more than anything.
Cheers and happy selling.
Seller_esvgLzKXw2YAl
The repayment default is per month, with the option of changing to 2 weeks if you want to.
Pretty sure that there aren’t any penalties for early repayment. But take a look at the Amazon page, it gives most of the information there.
https://sellercentral.amazon.co.uk/help/hub/reference/G200716850
Just remember to make sure that you actually need the loan to expand your business, rather than paying some bills off etc. One thing I will say for them, is they are very quick and easy once offered.
7 replies
Seller_7VbclcPFFRTnc
question 1
had they not have offered you a loan would you have looked to get a loan elsewhere ?
Seller_esvgLzKXw2YAl
There really isn’t much to it.
If your interested in a loan and they are offering you one, then as long as it fits in with your commitments etc, then it’s no different than getting a loan from the bank and so on.
If it’s offered, you don’t need to do give them any further information, other than to sign the agreement.
Just be aware of repayments and cost. They tend to be quite short term, so the payments are relatively higher. The actual cost of the loan, will depend very much on your circumstances. When I’ve been offered, it’s comparable with other sources and occasionally cheaper. It’s certainly far easier to get.
Seller_aovSrGTvHBnnz
Do you typically make the repayment every 2 weeks or so? Any penalties for early payment?
Seller_esvgLzKXw2YAl
The repayment default is per month, with the option of changing to 2 weeks if you want to.
Pretty sure that there aren’t any penalties for early repayment. But take a look at the Amazon page, it gives most of the information there.
https://sellercentral.amazon.co.uk/help/hub/reference/G200716850
Just remember to make sure that you actually need the loan to expand your business, rather than paying some bills off etc. One thing I will say for them, is they are very quick and easy once offered.
Seller_aovSrGTvHBnnz
Thanks Neil. This is exactly what I need to seriously think about. Thanks for link provided. Cheers
Seller_FqalN2Equ13mj
I have used Amazon Lending in the past.
If Amazon are offering it, then you are pretty much guaranteed to get it.
You can go in and play around with the levels and see the interest associated with it.
I have found it to be comparable to other options.
If your happy to press ahead then click the button and check the agreement and your done and it appears almost immediately and if memory serves me right, they disperse it as well.
Once they did send me an agreement to sign and send back to say that if my Ltd Company defaulted, they would come after me as i would be acting as guarantor to the loan!!
I kept the payment at the anniversary date of the loan, but you have the option to pay more than the required amount, which i did and this reduces your total interest payment.
Haven’t used it for a while, but i always seem to have an offer on my loading page in seller central, the most its been up to is £84000!!
