Small business owners who sell on Amazon’s platform will soon receive invitations for revolving credit lines from Goldman Sachs; fixed annualized interest rates will range from 6.99 to 20.99 percent; Amazon initially thought to create a marketplace for loans but dropped that idea in favor of working with Goldman Sachs; Amazon and Goldman Sachs have started to develop a close relationship that started with the Whole Foods acquisition; Amazon has always been guarded about their SMB lending operation and the new partnership points to their willingness to loosen the reins a bit; the deal is another feather in the cap for Goldman Sachs who have been accelerating their push into Main Street lending the last few years; “We’re super excited about embarking on this journey with Amazon, and thrilled that they chose to partner with us,” said Omer Ismail, Head of Goldman’s U.S. consumer business, to CNBC. CNBC
