Amazon Lending Review

Where does Amazon Lending do business?

Amazon Lending is a business financing offering by Amazon, a direct lender based in North Seattle, WA. Founded in 1994, Amazon offers access to business loans in 50 states (and Washington, DC).

What are Amazon Lending’s rates?

Amazon Lending offers a business financing product that ranges from 6% APR up to 14% APR.

Does Amazon Lending charge an origination fee?

Yes, Amazon Lending charges a loan origination fee.

What limitations does Amazon Lending set on the purpose of the loan?

Amazon Lending considers loan applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Lease Improvement
• New Location
• Product or Service Expansion
• Working capital

What types of business loans does Amazon Lending offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Amazon Lending provides access to the following business loan types:

• Unsecured term loans

Does Amazon Lending charge prepayment fees?

Yes, Amazon Lending charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from Amazon Lending?

Loan amounts start at $1,000 and go up to $750,000.

What is the maximum loan term you can get with Amazon Lending?

Amazon Lending offers business loans with a maximum term of 12 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for a loan with Amazon Lending?

Applicants with a credit score of at least 640 can apply for a loan via Amazon Lending. Amazon Lending does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered Amazon Lending will also consider borrowers who are unemployed. To qualify, applicants may need to provide the following documentation:

• Proof of Identity
• Proof of Income

What is the estimated funding time for a business loan via Amazon Lending?

Amazon Lending can approve (or deny) a loan application within 72 hours and fund business loans within 1 business day of approval.