Ama­zon backs SMEs

Weekend Argus (Saturday Edition) - - FRONT PAGE -

AMA­ZON is tak­ing on Bri­tain’s banks by ramp­ing up lend­ing to small busi­nesses.

The com­pany launched its Ama­zon Lend­ing arm six years ago to pro­vide credit for in­de­pen­dent sell­ers us­ing its Mar­ket­place web­site and has now lent £2.3 bil­lion to cus­tomers in the UK, US and Ja­pan.

The op­er­a­tion has been so suc­cess­ful – with £800 mil­lion lent in the past year alone – that Ama­zon is now re­port­edly con­sid­er­ing ex­pand­ing to more of the two mil­lion firms which use its plat­form.

Peeyush Na­har, vice-pres­i­dent of Ama­zon Mar­ket­place, said most sell­ers used the ex­tra cash to buy stock.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.