SellerFI lending program
What do you guys think about SellerFI lending program in Amazon? We see a quarter million dollar offer in our dashboard but cost of borrowing seems extremely high
SellerFI lending program
What do you guys think about SellerFI lending program in Amazon? We see a quarter million dollar offer in our dashboard but cost of borrowing seems extremely high
8 respuestas
Daryl_Amazon
Hey @Seller_9YP7YHagiaxYP,
Amazon mod here providing my opinion on the matter, this is a fairly new feature we launched to our CA sellers, glad it caught your attention!
Eligible sellers in Amazon's Canada store can now apply for a merchant cash advance from SellersFi to fund and grow their business.
SellersFi, a global financial technology company, has partnered with Amazon to offer sellers merchant cash advances for fast, flexible financing.
With a merchant cash advance, you can access up to $5 million in funding with customizable repayment terms based on sales performance.
To find out whether you're eligible to apply for a merchant cash advance with SellersFi, go to the Growth tab. If you're eligible, a sub-option titled Lending will be available.
More information can be found within the next link:
Hope other seller can jump in the conversation and provided their insight on this too.
Daryl
Seller_aKjpvLf9GNkXt
Nothing but a scam in my eyes. First the extremely high cost which leads to the assumption they classify what they do as super high risk, and then our application for only a fraction of the offered funding was even declined. Amazon is freaking rich and could offer a way more affordable program directly to its sellers, without a shady and greedy 3rd party involved.
Maybe the cost is so high because Amazon wants, as always, at least 20% of the cake. We will never know.
Seller_y7W9ccUlauftE
Amazon did lend in the USA until the start of 2024 when they switched to 3rd party moneylenders. This all part of amazon cost cutting on the market side of the company, just like their pull back on warehouse space in the USA after they lost money in 2022. Don't forget that amazon (under USA law) is just another greedy shareholder company.
As for the offer, mine is worth about 6 weeks of AZ sales. I regard it as the equivalent of payday loan, to be used only when you run out of other options.
-;-
Seller_QRCCHaCQLdCtL
You are right. The fees (cost of borrowing) are extremely high.
Seller_MQQBHDfSDIKMC
When I saw that offer for the first time, I googled the company. After reading the reviews, I am not going to use them even as a last-resort solution. I agree with dennis_mullin, it is a payday loan kind of thing with everything that comes with the concept.
