Amazon loan
been offered an amazon loan for 25k…anyone else had one and are they quick and easy…i am happy and not in need off it really but could jump start a few new products and push me to the next mile stone etc …plus could pay off within a few months…thoughts…???
Amazon loan
been offered an amazon loan for 25k…anyone else had one and are they quick and easy…i am happy and not in need off it really but could jump start a few new products and push me to the next mile stone etc …plus could pay off within a few months…thoughts…???
36 replies
Seller_7VbclcPFFRTnc
Would you have sought a bank loan anyway ?
Seller_esvgLzKXw2YAl
The loans are quick and easy and depending on your status, can be comparable with banks etc.
However, they are generally very short term and you have no choice, but to make the payment each month, as it comes directly out of your disbursements.
If it’s something that your thinking of, it can be useful, but I would suggest that your probably better off looking to a more regular source of funds.
Seller_lyUF34znaGncK
Be careful, while ever you owe them installments they tend to hang on to your money for sometimes weeks on end. I had an installment due of £2400 and had almost £10K in my account and they didn’t let me withdraw a penny of it for 3 weeks.
Seller_3h73Wv2FjIws0
If you can use it for stock that will sell fast enough then they are great, or have been for me at least. I started with a 2k loan and if it wasn’t for these loans I wouldn’t have grown as much as I have. Currently owe them 500k, so I can’t stop now haha.
Seller_wqciCXuQbNS4p
And check the interest rates…they keep offering us more and the last offer the rate had increased by a point.
With today’s base rate rise, you may even see another rise in the rate.
Seller_wqciCXuQbNS4p
I think that the only other matter to bearing in mind, is make sure that you can meet the repayments.
If Amazon is your only revenue stream, then you need to be a little careful. Revenue generated from your sales will always, without question, be used to repay the loan before repaying you. If you have a fallow month, it may even be possible that the whole month’s turnover is absorbed in servicing the debt. Of late, a few people have been on the forums citing just that, and it’s crippled there day to day cash flow.
Seller_0a8JwzVCco9bA
Yes, they are easy to set up and run because they are paid through the seller account. Compare the interest rate they are offering with other sources available to you to make sure you’re getting value for money before you commit to it.
I used Amazon Lending last year one time which helped me re-stock inventory when I needed to, but subsequently paid it off and then took out a further start up loan through the British Business Bank which was at a far more reasonable rate.
As long as you have a plan then there is nothing wrong in borrowing money to grow a business - good luck!
Seller_tc3VxVXAlHXbN
It’s really expensive you seen the rate? Twice often 3x the rate of competitors why pay twice as much?
Seller_tc3VxVXAlHXbN
Iwoca Seller Fi Clearco your own bank Liberis YouLend even the UK Government Business Loans are cheaper (6% as of today)
Google Amazon Loan/Funding it’s very competitive within the past year I’ve got 1.5% loans from foreign banks
