Individuals looking for small business loans could soon get a loan through Amazon.
The Financial Times reported today (Feb. 3) that Goldman Sachs Groups is in discussions with Amazon to offer small and medium-sized business loans through Amazon Lending, the e-commerce company’s lending platform. According to the Financial Times’ report, the initiative could happen by March.
The Amazon Lending platform is designed to provide access to capital for growing business on Amazon’s site. Common uses of the loans, according to Amazon Lending’s frequently asked questions section, are buying inventory, bulk buying, product development, advertising costs and other business costs.