Amazon Suspends Merchant Loan Repayments Due to Coronavirus
Amazon.com (NASDAQ: AMZN) announced on Wednesday that it was pausing the repayment of loans by sellers on its marketplace due to the disruptions caused by the novel coronavirus pandemic.
The e-commerce giant has historically provided working capital loans to merchants of between $1,000 and $750,000 via its Amazon Lending program, which has offered terms of between three and 12 months, with interest rates ranging from 6% to 19.9%. Repayment of those loans will be paused, effective immediately, with the delay currently scheduled to last until April 30.
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Source Fool.com
