Amazon Partners with Goldman Sachs on SMB Credit Line

Small business owners who sell on Amazon’s platform will soon receive invitations for revolving credit lines from Goldman Sachs; fixed annualized interest rates will range from 6.99 to 20.99 percent; Amazon initially thought to create a marketplace for loans but dropped that idea in favor of working with Goldman Sachs; Amazon and Goldman Sachs have started to develop a close relationship that started with the Whole Foods acquisition; Amazon has always been guarded about their SMB lending operation and the new partnership points to their willingness to loosen the reins a bit; the deal is another feather in the cap for Goldman Sachs who have been accelerating their push into Main Street lending the last few years; “We’re super excited about embarking on this journey with Amazon, and thrilled that they chose to partner with us,” said Omer Ismail, Head of Goldman’s U.S. consumer business, to CNBC. CNBC

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments