Source: Business Insider
Amazon is testing a new lending marketplace for its third-party merchants, Business Insider has learned. Companies making the loans include Amazon’s own lending arm and Goldman Sachs’s Marcus group, as well as regional banks like Lendmark and Finbank. It’s Amazon’s latest move to expand its lending service, which first launched in 2011 but was limited to Amazon offering loans directly to certain merchants. Amazon stopped disclosing its lending amount in 2017, when it said it made a total of $3 billion in merchant loans so far. Visit Business Insider’s homepage for more stories . Amazon is partnering with several banks, including Goldman Sachs, for a new online lending marketplace where mercahnts who sell their goods on Amazon’s site can take out loans and lines of credit, Business Insider has learned. The new marketplace shows a list of 3-to-12 month loans for the sellers to choose from, with a max loan size of $1 million for the first time, according to screenshots seen by Business Insider.