Amazon Lending is announcing a new partnership with Marcus by Goldman Sachs which allows them to offer a Marcus Business Line of Credit built specifically for Amazon sellers based in the U.S. Starting today, eligible sellers will receive invitations via Seller Central to apply with Marcus for the Line of Credit. We are starting this new program gradually. The Marcus Business Line of Credit offers competitive, fixed interest rates and provides Amazon sellers with the flexibility to request funds as needed, subject to approval.
As with our direct loans from Amazon Lending, the goal is to help sellers grow their Amazon business, as well as other online or offline channels. For example, sellers can use funds to cover staffing and operations costs, buy more inventory for improved cost efficiency, invest in product development and manufacturing, or expand marketing efforts to build their brands and grow their customer base. The fully digital experience makes it simple for eligible business owners to quickly see their financing options.
This partnership expands on Amazon Lending’s existing program to support seller growth. In 2019, Amazon loaned more than $1 billion to more than 14,000 U.S-based businesses. Since 2016, Marcus by Goldman Sachs has offered simple, transparent, and valuable products and tools designed to help consumers reach their financial goals, and now they are taking that same approach to this line of credit product for small businesses selling with Amazon.
As of May 2020, Marcus held more than $80 billion in global deposits and $7 billion in lending balances, all while serving millions of customers with the commitment to be on their side. Goldman Sachs has long supported small businesses with efforts such as its 10,000 Small Businesses program, an investment to help entrepreneurs create jobs and economic opportunity by providing access to education, capital and business support services.
For more information, visit Amazon Lending.
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