Amazon offering business loans to online sellers

Amazon.com Inc is launching a new business offering loans to some of its online sellers, a move that could boost the growth of its giantInternet marketplace, Chief Executive Scot Wingo of e-commerce advisory firm ChannelAdvisor said on Thursday.

The new program is called Amazon Lending and sellers on the company's marketplace have been sent emails offering loans from Amazon Capital Services Inc, according to Wingo, who posted a copy of one of the emails on ChannelAdvisor's website.
Amazon shares rose 2.4 per cent to $255.74 in early afternoon trading.

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