Dear @Seller_mIRnuhdx7l5sN,
I hope you are well. Thank you for your reply.
It has come to our attention that YouLend's merchant financing agreements are not regulated by the Financial Conduct Authority (FCA) for business financing. This means they do not fall under the same consumer protection rules as regulated financial products. If things go wrong or there is an error by YouLend, will Amazon help? There appears no safety net?
You have stated that the partnership with YouLend is based on UK seller surveys. Could you please clarify which specific surveys these are, and where the results are published for merchant verification? Transparency in this regard would help build trust among sellers.
Additionally, there have been reports of YouLend withdrawing more money from sales than agreed, leaving merchants financially strained. Concerns have also been raised about the lack of clarity in the following areas:
No stated Annual Percentage Rate (APR) or clear repayment terms for advances.
Uncertainty about how long it will take to repay the capital advance.
Ambiguity regarding fees and potential future charges.
What fees payable for late payment or early repayment?
Factor, in Amazon fairly common remove of selling privileges, makes wanting a cash advance very unsavoury
These issues highlight the need for greater transparency and clearer communication about the terms and conditions of YouLend's financing products. Addressing these concerns would go a long way in fostering trust and confidence among merchants.
I look forward to your response.
Best regards