Amazon Discontinues Its In-House Business Loans

| By:

amazon truckAfter deBanked reported that Amazon’s on-balance-sheet business loan receivables had remained steady throughout 2023, the company has abruptly decided to terminate its in-house lending program altogether.

Through an email confirmed to Fortune, Amazon ended its in-house term loan business on March 6. That same story says that they will continue to work with third party lenders and funders as they have been doing for a while. Some of their partners include Lendistry, SellersFi, and Parafin.

The in-house program had been running since 2011 and was first discovered by deBanked in 2013.

While the company was shy about disclosing origination figures, it carried approximately $1.3B in loan receivables on its books throughout last year.

The Amazon news coincides with the announcement that business loan rival Funding Circle has decided to exit the US market. Funding Circle US is currently up for sale.

Last modified: March 12, 2024

Category: Business Lending, Industry News

Home Business Lending, Industry News › Amazon Discontinues Its In-House Business Loans