Get a loan within 24 hrs! Amazon India launches lending network for sellers

The seller needs to have a business history of at least four to six months on the Amazon platform to avail a loan

In another India-first initiative, Amazon has launched a lending network connecting lenders and its sellers, who will be able to avail loans at competitive rates in as swiftly as 24 hours.

The Amazon Lending programme will offer loans, including term and overdraft loans, between Rs 200,000 and Rs 50 million depending on the requirement of the seller via an online application process. The e-commerce giant has brought on board six lenders, including Aditya Birla Finance, Bank of Baroda, Capital First, Capital Float, Flexiloans and YES Bank, to provide a wide range of loans to the sellers to expand their businesses