Amazon Launches Merchant Programme
(02 November 2022 - USA) Amazon has partnered Parafin to launch a new merchant system that ties repayment to future sales.
With borrowing costs rising, Amazon is seeking to lure US enterprises to its platform with the new programme. The new offering promises to extend credit to sellers in a matter of days with transparent and capped rates, no fixed term, no personal guarantee, no credit checks, and no late fees.
Eligible corporates can access capital from US$500 up to US$10 million, with a payment schedule determined by a fixed percentage of their gross merchandise sales. There are no minimum payments, no collateral requirements, and no interest, with firms instead paying a fixed capital fee.
"We founded Parafin with the mission to grow small businesses, and we’re thrilled that we have the opportunity to do that by providing Amazon sellers with this merchant cash option" said Parafin Co-Founder, Vineet Goel.