July 23, 2021
The Amazon Business line of credit is a financing option for companies that shop on Amazon Business or Amazon. com and are managed by Synchrony Bank.
It helps organizations simplify their purchases and agreements without sacrificing the flexibility and control required to manage their business.
The Amazon Business Line of Credit includes deals, some of which include, no interest or annual fee, longer payment terms (55 days) and a dedicated account management team to help set up and maintain the user account.
Amazon Business Line of Credit cannot be used for purchases other than Amazon’s and cannot be used for all Amazon purchases such as mobile phones, textbook rentals, e-documents, etc.
While users do not have to worry about paying interest on purchases, as Amazon only offers pay-in-full lines of credit, there are some fees users of the service will be subjected to. These include a 2% monthly fee or 24% annual interest on late payments, along with a $29 return fee.
To apply for the Amazon Business line of credit, applicants must provide the following information: business name, business address, telephone number and e-mail address, business type, annual sales, tax identification number, and information about the authorized representative or owner.
For more information, read the original story in ZDNet.
