Amazon Plans Lending Expansion
Fortunately, there are many sources of lending available to small businesses here in the UK. For instance, the traditional high street banks and some building societies, specialist commercial lenders and peer to peer lenders. The greater the availability of lenders means that there is increased competition potentially resulting in more competitive products, fees and interest rates that could benefit the business community looking for finance.
Apparently, Amazon Lending that was set up around 6 years ago to provide a select number of its business customers with finance is expecting to expand its lending operation in Japan, USA and the UK. It is considering making available finance to more of its small business customers who sell on its website. Some small businesses use the funds to buy additional stock that they then sell on Amazon.
It will be interesting to monitor what happens in respect of the above and also how competitive they are in relation to the other sources of small business lending that we have already mentioned above. With so much competition for business finance it is important that businesses should seriously consider shopping around to try to obtain a competitive financial package.
Many business owners commit a huge number of hours every day to try to make their business a success and, having done so, still devote a lot of time to maintain that success. Therefore, owners and directors may not have the time to search out a competitive finance package with many merely approaching their own bank rather than shopping around.
Here at Commercial Mortgage Link, we have a significant amount of experience and an extensive panel of lenders so are well placed to do all that we can to try to assist our business clients to find the finance package that they require. So, why not give us a call to discuss your requirements and allow us to endeavor to source the funding you need.