Amazon Lending surpassed $3 billion in loans to small businesses since its launch in 2011

  • Amazon has lent more than $1 billion to small businesses in the last 12 months
  • Amazon provides small businesses access to more than 300 million active customer accounts worldwide

SEATTLE, 2017-Jun-08 — /EPR Retail News/ — Amazon today announced Amazon Lending surpassed $3 billion in loans to small businesses to date since the program launched in 2011. Amazon Lending offers short-term business loans, for up to 12 months, to invited micro, small and medium businesses selling on Amazon to help them grow their business. With access to more than 300 million active customer accounts worldwide, Amazon provides small businesses the opportunity to quickly reach customers in their neighborhood and around the globe.

“We created Amazon Lending to make it simple for up-and-coming small businesses to efficiently get a business loan, because we know that an infusion of capital at the right moment can put a small business on the path to even greater success,” said Peeyush Nahar, Vice President for Amazon Marketplace. “Small businesses are in our DNA. Amazon is providing capital to small businesses to help them expand inventory and operations at a critical period of their growth. We understand that a small loan can go a long way.”

Facts about Amazon Lending:

  • In the last 12 months, Amazon has lent more than $1 billion to small businesses.
  • More than 20,000 small businesses have received a loan from Amazon.
  • More than 50 percent of the small businesses Amazon lends to take a second loan from Amazon.
  • Amazon has issued loans to small businesses across the U.S., U.K., and Japan.
  • Invited small businesses are able to apply for loans ranging from $1,000 to $750,000.

Half of the items sold on Amazon worldwide are from small businesses that offer their products through Amazon Marketplace, many of whom also choose to use Fulfillment by Amazon as a way of making their items Prime eligible. Small businesses and entrepreneurs selling on Amazon come from every state in the U.S., and from more than 130 different countries around the world. Amazon began inviting small businesses to sell on Amazon to increase selection and ensure customers could find and discover anything they wanted to buy online.

“Amazon has had a hugely positive impact on our business,” said Caleb Light, Vice President of Sales for Power Practical, in Salt Lake City, Utah. “Traditional funding vehicles wouldn’t support our model of direct to consumer and we needed help. Amazon stepped in and is a great partner for us. The loans from Amazon Lending enabled us to expand inventory and resulted in us having a very strong and successful 2016.”

“Customers expect to be able to buy LonoLife on Amazon. The loan from Amazon Lending gave LonoLife the ability to procure bulk raw materials and packaging to build inventory to keep up with incredible customer demand,” said Lawrence Holland, President of LonoLife Inc., based in Oceanside, Calif. “Amazon’s willingness to provide LonoLife capital ensured that we are able to keep our products in stock and gave us the opportunity to grow our product offering.”

Businesses interested in selling on Amazon can visit http://services.amazon.com. To view inspiring stories of inventors, authors, and small business owners who are transforming their lives and pursuing their dreams with Amazon, check out Transformations.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about and follow @AmazonNews.

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Source: Amazon.com, Inc.

Amazon opens The Mark Cuban Collection on Amazon Exclusives

  • The Mark Cuban Collection includes items customers will recognize from the TV program Shark Tank
  • Amazon Exclusives gives customers access to new products directly from up-and-coming brands
  • On average this year, Amazon Exclusives store sales have grown more than 15 percent per month
  • Amazon Exclusives items are available to Prime members with Free Two-Day shipping through the Fulfillment by Amazon service

SEATTLE, 2016-Jun-02 — /EPR Retail News/ — Amazon (NASDAQ: AMZN) announced today the opening of The Mark Cuban Collection (www.amazon.com/exclusives) on Amazon Exclusives, giving customers direct access to innovative new products from popular up-and-coming brands. The Mark Cuban Collection launches with more than 100 items that many customers will recognize from being featured on the TV program Shark Tank. To start, The Mark Cuban Collection features approximately 20 brands including Tower Paddleboards, Slyde Handboards, Power Practical, Bottle Breacher, and many more.

“Amazon is the best in the world in online transactions,” said Mark Cuban, investor and entrepreneur. “Smart curation and product discovery is somethingAmazon does very well. The Amazon Exclusives program exposes brands to new customers and handles much of the logistics. That back-end support is critical for companies that want to grow.”

“At Amazon Exclusives, customers can easily find new brands that have chosen to quickly bring their hot items directly to Amazon,” said Kyle Walker, Category Leader for Amazon Exclusives. “Many of the items in The Mark Cuban Collection have created a buzz on TV and built customer demand before they are even available. We want to give customers access to these must-have new items.”

Since the Amazon Exclusives store launched last year, selection has grown to approximately 20,000 items with more than 60 items having reached category Best Seller status across many Amazon categories. Amazon Exclusives now features more than 300 innovative brands, adding hundreds of unique new items every month. On average since the beginning of the year, Amazon Exclusives sales have grown more than 15 percent per month. In 2015, sales from the Amazon Exclusives store topped $50 million.

To provide customers access to innovative products, the Amazon Exclusives team works with select brands to help bring their items on to Amazon. Customers can explore a unique range of electronics accessories, toys, sporting equipment, and much more. Products in the Amazon Exclusives store are only available online from Amazon or directly from the brand’s website. Items are stored in the Fulfillment by Amazon network, which means they are eligible for Free Two-Day Shipping to Prime members in the U.S.

“Customer visibility is key to our success on Amazon, and with the Amazon Exclusive relationship we’ve see a stronger alignment between our brand and Amazon,” said Caleb Light, VP of Sales for Power Practical, headquartered in Salt Lake City, Utah. “Amazon Exclusives gives us more time to focus on selling and bringing new products directly to customers, with the net result being more business.”

Here’s what customers are saying about Amazon Exclusives:

  • “Just love it. Excellent products!” – Andrea A.
  • “At first blush it appears that [Amazon Exclusives] is an excellent opportunity for individuals that have products to sell. I think it’s fantastic thatAmazon is providing the vehicle.” – Michael S.
  • “I absolutely love Amazon and I am dedicated to trying anything worthy of being called exclusively yours!” – Scott K.
  • “I haven’t heard of many of these brands but it’s great to see that Amazon is also on the edge of newer products and not always just a warehouse for available products.” – Casey Z.

“The connection Amazon Exclusives has created with customers is unmatched. My sales on Amazon are almost exceeding our website sales in just four short weeks,” said Peter Ferreira, founder for Nuts ‘N More, headquartered in Providence, Rhode Island. “Amazon is the leader in the art of the transaction. They have revolutionized the buying experience by simplifying and streamlining the process to shop on Amazon.”

To explore hot new brands and products in the Amazon Exclusives store, visit: http://www.amazon.com/exclusives.

About Amazon
Amazon.com opened on the World Wide Web in July 1995. The company is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about.

Source: Amazon.com, Inc.

Amazon.com, Inc.
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