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Amazon to offer loans to sellers

Sep 28 2012 10:05

San Francisco - Amazon.com is launching a new business offering loans to some of its online sellers, a move that could boost the growth of its giant internet marketplace, chief executive Scot Wingo of e-commerce advisory firm ChannelAdvisor said on Thursday.

The new programme is called Amazon Lending and sellers on the company's marketplace have been sent emails offering loans from Amazon Capital Services, according to Wingo, who posted a copy of one of the emails on ChannelAdvisor's website.

Amazon shares rose 2.4% to $255.74 in early afternoon trading.

Amazon spokespeople did not immediately respond to an email seeking comment.

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