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Covid-19 impact: Amazon won't require sellers to repay loans until April 30

Merchants of popular items from toys to apparel have worried that the temporary ban on stocking goods in Amazon warehouses

Amazon | Coronavirus | Lockdown

Reuters Inc on Wednesday said it temporarily would not require sellers in its marketplace to repay loans it had made to them, as merchants confront the prospect of declining sales during the coronavirus pandemic. The world's largest online retailer notified sellers that its programme known as Amazon Lending would pause repayments beginning Thursday until April 30. Interest would not accrue during that period, it said. The programme has offered sums between $1,000 (846.5 pounds) and $750,000 to merchants looking for capital to acquire inventory, expand their product lines and ...

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First Published: Thu, March 26 2020. 09:00 IST