Amazon Seller Services (ASSPL) announced the launch of a Seller Lending Program in India that will enable small and medium businesses on Amazon.in get fast and easy access to working capital.
The company has partnered with Capital First Limited, an independent Mumbai-based non-banking financial company (NBFC), for the lending programme, Amazon said in a statement.
It said Capital First would provide secured and unsecured loans to sellers from Rs 5 lakh to Rs 2 crore at very competitive interest rates.
"With the Lending Program for sellers, we help them overcome the barrier of access to capital and enable them to scale their business on Amazon.in," Amazon India Director & GM, Seller Services Gopal Pillai said.
Currently, loans from the seller lending programme are offered on an invite-only basis for marketplace sellers who qualify against various criteria, including account tenure, seller's selling history, customer feedback and compliance with Amazon policies and guidelines, the company said.
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