Amazon.com Inc. has partnered with Bank of America Corp. to provide sellers on its platform access to credit so they can buy more inventory, according to a CNBC report. Bank of America stock is up 1% to $32.34 and Amazon stock is flat after hours. Citing anonymous sources, the report said allows Amazon to reduce its risk and the program offers loans of $1,000 to $750,000 for firms that may have trouble borrowing money through more traditional sources. The lending program is invite only, has no website, and is geared toward helping sellers move more inventory, not turning a large profit on interest payments from the loans, the CNBC report said.
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