SEATTLE (dpa-AFX) - Amazon (AMZN) and Lendistry announced Amazon Community Lending which will provide U.S.-based Amazon sellers access to short-term loans. The program is a new business financing option through Amazon Lending, and will provide growth opportunities for small and medium-sized businesses selling in Amazon's store. Lendistry is a minority-led Community Development Financial Institution.
Under the joint pilot program, Lendistry will provide term loans targeting a range from $10,000 to $100,000 with periods of up to two years and annual percentage rates generally ranging between 8% and 9.9%.
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