Where does Amazon Lending do business?
Amazon Lending is based in Seattle, WA. It was founded in 1994 and offers access to business loans in 50 states (and Washington, DC).
What are Amazon Lending’s rates?
Amazon Lending offers business loans with APRs starting from 6% and up to 14%.
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?
Some lenders only provide business loans for certain purposes. Amazon Lending offers considers loan applications for the following reasons:
- Equipment purchase
- New location
- Product or service expansion
- Working capital
- Business debt refinance
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 a late fee?
No, Amazon Lending will not charge you a late fee. Yes, Amazon Lending charges borrowers with a late payment fee.
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. Active duty servicemembers and their covered dependents cannot apply for a loan via Amazon Lending. The Military Lending Act prohibits lenders from charging servicemembers more than a 36% APR.
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.
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Seattle, WA 98108 USA
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- Washington, DC
- New Hampshire
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- Unsecured Term Loan
- Business Debt Refinance
- Equipment Purchase
- Lease Improvements
- New Location
- Product or Service Expansion
- Working Capital