Amazon will roll out its Amazon Community Lending program as a long-term offering a year after the initiative’s pilot launch. In partnership with Lendistry, the program will continue to support urban and rural small businesses in socially and economically distressed communities.
Bloomberg reported that trendy digital-native retailers like Warby Parker and UntuckIt are opening brick-and-mortar stores, finding customers want instant gratification and the ability to try on products.
The Wall Street Journal reported that Amazon is speaking with big banks, including JPMorgan, about developing a checking-account-like product for its customers.
Amazon has provided more than $3 billion in short-term loans to sellers who need working capital. ABF Journal illustrator Jerry Gonzalez salutes the Amazon Lending program and Amazon’s recent Whole Foods purchase.
Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt. Goldman Sachs, Goldman Sachs Lending Partners, Merrill Lynch and Bank of America, have committed to provide a 364-day bridge term loan facility to support the transaction.
The metamorphosis of Amazon from a bookseller to one of the largest retailers on the planet has permanently changed the business landscape. Yet ABL lenders have hesitated to lend against inventory held at Amazon’s warehouses. Tiger Capital’s Andy Babcock and Ryan Davis assuage lenders’ fears. They explain how the Fulfillment by Amazon program benefits sellers and creates a seamless, profitable liquidation process for lenders.
Wells Fargo Education Financial Services and Amazon partnered to create a new interest rate discount for Amazon Prime Student customers who apply for any of Wells Fargo’s private student loan products.
According to an SEC filing, Amazon.com entered into a credit agreement with a lender group led by Bank of America, as administrative agent.
Dramatic shifts in the retail grocery business continue to create opportunities for asset-based lenders and private-equity investors, a Tiger Group expert noted in a Sept. 12 panel discussion with colleagues.