Amazon Lending Review

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

What are Amazon lending’s rates?

Amazon lending offers a fixed APR 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 business loan?

Amazon lending considers business 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 small business loans does Amazon lending offer?

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

• Unsecured Term Business Loans

Does Amazon lending charge prepayment fees?

Yes, Amazon lending charges additional fees to borrowers who pay off their small business 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 business loan early.

How much can you borrow from Amazon lending?

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

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

Amazon lending offers small 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 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.

Applicants with a credit score of at least 640 and up to 850 may be eligible for Amazon Lending.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Amazon Lending. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Amazon Lending. Permanent resident / green card holders are also eligible to apply. An uncommon feature is for lenders to offer their services to non-residents. Amazon is one of the few that does. If you are a non-resident looking to access these services through an entity incorporated in the U.S., you are in luck. Amazon Lending will consider you for their services.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of identity

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

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