Can my business partner and I get a better rate by applying together? Are there pre-payment fees?
Our rule is that there can be only one amzLenders account and one active financing per business. If your partner sends us an additional application for your joint business, we would have to reject the application. We can, however, pre-approve you for a lower rate as soon as you are eligible.
How much does it cost to apply?
Its free! You’ll never be charged a dime until you you’re happy with the offer we provide. Our application is quick, easy, painless – and best of all, costs you nothing!
Who is eligible for financing?
Anyone with a healthy Amazon account, consistent sales, and a business bank account is eligible.
You qualify if you have:
- Professional Amazon selling account
- 3 months of Amazon sales history
- $2,500 per month in sales
- 500 completed orders
- Business bank account
I have a low credit score. Can I still get approved?
Your personal credit problems do not affect our decision at all. We focus on the financial health of the business, not its owner. We don’t look at your personal credit score, bank statements, tax returns or the value of your assets.
What if I have multiple seller accounts?
Currently, we only support one seller account per amzLenders account. If you have multiple seller accounts, we suggest you choose the one with the longest sales history and highest average revenue.
In the near future, we will add support for multiple seller accounts.
Can I apply with a Amazon Vendor Central or Vendor Express account?
While we are exploring financing options for Amazon Vendor Central and Vendor Express accounts, it is not available at this time.
How much can I apply for?
Once you’re approved, we’ll provide you with several options with varying amounts. From these choices, you’ll be able to pick the amount you need.
How does the application process work?
Our online application is quick, hassle-free, and doesn’t even require a credit score. All you have to do is tell us the basics about your business, link your Amazon account and securely verify your bank details.
What are the funding amounts and terms?
The amount and rate we offer is individually customized and depends entirely on the transaction volume, sales history, and health of your business. We want to make you the best offer possible, while ensuring you are able to pay it off in a reasonable amount of time.
If I apply now, when can I have the funds in my bank account?
Assuming there are no delays, you could have funds in little as 48 hours. On average, you can expect the process to take 3-7 business days.
Should I apply if I don’t meet the criteria?
Yes! There’s actually an advantage to applying if you don’t meet our minimums. We will periodically review your account, so as soon as your account does meet our criteria you’ll be notified – no need to constantly re-apply or wonder when you’re eligible.
What do you look at when approving a funding application?
We examine dozens of factors during the approval process including (but not limited to) transaction volume, sales growth, account age, seller feedback, inventory, and products listings.
Do I have to connect my bank account? Is it secure?
Yes, it is a requirement for a few reasons: it verifies that you own the account to prevent fraud, it prevents data entry errors, and we can ensure the linked account is the one receiving Amazon proceeds. This reduces our risk, and keeps our rates as low as possible.
We NEVER have access to your username, password, or security questions, nor do we store this information anywhere.
Do you check my credit?
Nope! We think credit scores are irrelevant to how well your business performs – you don’t even need a credit score to apply.
Do you require collateral?
No. We do not require collateral, inventory, hard assets, equipment, or real estate.
Is a personal guarantee required?
Yes. This is industry standard – virtually all short term business lenders require a personal guarantee.
Can a business have more than one active financing at a time?
No. However if you need additional funds, we will automatically let you know when you are eligible to refinance for a higher amount or lower rate.
I’m not sure how much I need. Can I ask for more later on during the application process?
When you apply, we’ll determine your credit limit and let you can choose from several options. If you would like to borrow more money (up to that limit) please contact us.
If the maximum amount is still not enough, we’ll let you know as soon as you’re eligible for a higher amount or lower rate.
Where can I have my funds deposited?
Funds will be transferred to the business bank account that receives deposits from your Amazon Seller account.
What if I don’t get approved?
If you’re not qualified when you apply, you can have an account with us without access to a loan. We’ll tell you why you weren’t approved and provide you with the guidance and resources to help you become eligible for a loan.