1. What is an Amazon loan?
Amazon loan is a loan product opened by Amazon Group to ensure the product diversity of Amazon shopping and the financing needs of enterprises. Amazon's lending customers are mainly small and medium-sized enterprises, providing short-term emergency loans for small and medium-sized enterprises, with the longest loan period not exceeding 12 months, so as to solve the problem that some small and medium-sized enterprises are difficult to borrow. Because Amazon loan is a dollar-denominated loan platform and belongs to a foreign lending platform, the loan on Amazon loan platform will not be included in the domestic credit information system.
Second, Amazon's borrowing requirements.
Amazon loan has many limitations and advantages. Amazon loan is a short-term loan, so the application and approval process is relatively simple, the interest rate is low, and there are no other cumbersome charges, which is a good thing for borrowers. Amazon lending has restrictions on the use of borrowed funds. Loan enterprises can only be used for purchasing commodity inventory and management, and cannot be used for other purposes.
Third, Amazon loans are used to repay loans.
After the Amazon loan is successful, it will be deducted from the merchant's operating account every month, rather than the borrower's own repayment. If there is not enough repayment funds in the account of the lending merchant, Amazon will directly transfer the sales proceeds from the merchant to repay the loan. What's more, the proceeds from sales can't bear the loan, and Amazon will detain the merchandise store. Even if Amazon can't get a loan, you can't be lucky enough to be overdue.
In a word, Amazon loan can't reach China's credit information system, because Amazon loan belongs to foreign lending products. However, even if Amazon can't access the credit information system, it still needs to repay on time to avoid bad records on major foreign platforms, resulting in the inability to shop in Amazon and hurting personal reputation.