Amid a month of ups and downs, Amazon Lending announced some relief for sellers yesterday.
Amazon has paused sellers’ existing repayments beginning today, Thursday March 26 and continuing through April 30.
This means sellers will not be required to make payments on money they have borrowed through Amazon Lending over that time period. Interest also will not accrue.
Sellers will begin repaying again on May 1, 2020. Reuters reported that sellers will still have the same number of payments remaining once repayment resumes.
What does this mean for Amazon Sellers?
Amazon has now joined the federal government and some states in the effort to keep cash flowing through businesses.
The federal government announced a 90 day extension for all taxpayers to file and pay income tax. And about 1/3 of states with a sales tax have announced some form of sales tax filing or payment relief. (Read the full list of states that have extended time to file or pay sales tax here.)
We’ll continue to provide news and updates on COVID-19 and eCommerce in our COVID-19 coverage here on the TaxJar blog.