Amazon.com Inc on Wednesday said it temporarily would not require sellers in its...
- Amazon.com Inc on Wednesday said it temporarily would not require sellers in its marketplace to repay loans it had made to them, as merchants confront the prospect of declining sales during the coronavirus pandemic.
The world’s largest online retailer notified sellers that its program known as Amazon Lending would pause repayments beginning Thursday until April 30. Interest would not accrue during that period, it said. “Loan repayments will restart on May 1, 2020 ... You will have the same number of remaining payments once repayment resumes,” Amazon said in a seller message obtained by Reuters.
Merchants of popular items from toys to apparel have worried that the temporary ban on stocking goods in Amazon warehouses, on which they depend for delivery, would mean low sales and difficulty paying back loans.
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