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October 4, 2022
A year after its pilot launch, Amazon announced that it will roll out the Amazon Community Lending program as a long-term offering. In partnership with BSD Capital (dba Lendistry), this program will continue to support urban and rural small businesses in socially and economically distressed communities through short-term loans at competitive rates. Since its launch, the program has loaned more than $35 million to over 800 Amazon sellers, surpassing the original goal of $10 million during the pilot. Now, the program plans to loan more than $150 million in the next three years to small businesses selling in the Amazon U.S. store. Small businesses in the program can use these funds to grow their business and cover other strategic needs, such as staffing and operations costs, inventory, product development and manufacturing, and marketing efforts. Loans provided by Lendistry through this program will range from $10,000 to $250,000, with terms of up to five years. The program also provides small businesses access to supplementary resources from Lendistry, including one-on-one consulting, webinars, and on-demand educational classes.