Online marketplace Bonanza launched a lending program for sellers shortly after Quincy Faison acquired online marketplace Bonanza in March. This week, it lowered the minimum requirements, making it accessible to more lower-volume sellers.
When the program launched in April, the program was available to sellers who generated $10,000/month in revenue across all selling channels with a minimum credit score of 550.
On Thursday, Bonanza announced the program is now available to sellers who generate $4,000/month in revenue across all selling platforms with a minimum credit score of 550.
In its announcement, the company said it had received a high volume of loan applications when it first launched the program. “We’ve heard from many of you that your business, though successful, did not meet the sales volume requirements for Amazon Business Lending. We believe you will find Bonanza Lending to be an excellent fit for your needs.”
You can find more information about the program and the new criteria on the Bonanza blog.
