Capital Float is a new Amazon lending program designed to provide small businesses with access to capital to help them grow. Amazon is partnering with a range of banks and financial institutionsto offer loans of up to $1 million to small businesses in the US. Loans will be available for terms of up to five years, and businesses can use the funds for a variety of purposes, including working capital, inventory, and equipment purchases.
To be eligible for a loan, businesses must have been in operation for at least one year and have annual revenues of $10 million or less. They must also have a good credit history and be based in the US.
Applications for loans will be open from July 1, 2019, and businesses can apply online through the Amazon Lending website.