Unfortunately, Amazon doesn’t currently have a loan program for its employees, although it has a few options if you need cash in an emergency. However, we found a couple of credit unions, an online lender and a major bank that offer a variety of loans for Amazon employees, plus some other financial services and perks.
Does Amazon offer loans to its employees?
While Amazon doesn’t offer loans directly to its employees, it provides a few options if you need quick cash.
Amazon Anytime Pay
One option for hourly employees who need fast cash is Amazon Anytime Pay — a cash advance program that allows you to access up to 75% of your earned wages. While not technically a loan, it’s a nice benefit for Amazon employees who find themselves short between paychecks.
Brightside Financial Care
Brightside Financial Care is a free employee benefit provided for Amazon employees. It offers a number of solutions to help you improve your overall financial health, including access to small loans — even for borrowers with poor credit — a high-yield savings account, budget planning, debt management and more. You can call or chat with a live financial assistant or go through its mobile app. But it’s a pilot program and currently only offered to Amazon employees in 12 states.
Other lenders that offer loans for Amazon employees
Even though Amazon doesn’t provide employee loans, a few lenders offer loan specifically for Amazon employees. But keep in mind that being an Amazon employee doesn’t guarantee loan approval.
Hope Credit Union
Hope Credit Union’s Amazon Employee Loan Program offers loans up to $1,000 for eligible Amazon employees at a reasonable 10% interest rate. Loan terms are up to 12 months, and you’ll repay it through automatic payroll deductions. But this loan offer for Amazon employees is only available in a handful of states, you’ll need to be employed for at least a year and you can only access the loan once every 12 months. You’ll also need to be a Hope Credit Union member and meet credit and other eligibility requirements.
- Loans up to $1,000
- Fixed rate of 10%
- Up to 12 months to repay the loan
| Loan amount | Up to $1,000 |
|---|---|
| APR | Fixed rate of 10% |
| Interest Rate Type | Fixed |
| Min. credit score | Not stated |
| Turnaround Time | Not stated |
| Maximum Loan Term | 1 year |
| APR | Fixed rate of 10% |
|---|---|
| Min. credit score | Not stated |
| Loan amount | Up to $1,000 |
Lendly
Lendly is an authorized loan servicer that offers installment loans for Amazon employees through CC Connect. Loan amounts range from $1,000 to $2,000, and it advertises funding in as fast as 24 hours. It also says it considers all credit scores, which is good news if you have poor credit. However, it doesn’t state how long you have to pay it back or disclose many other loan details, such as interest rates — it just says the average rate is 225%, which is very high. It also gets a lot of bad reviews on the Better Business Bureau (BBB) and Trustpilot.
- Available in: Alabama, Alaska, Arizona, Arkansas, Delaware, Florida, Idaho, Indiana, Kentucky, Louisiana, Michigan, Mississippi, Missouri, Montana, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Wisconsin, Wyoming
- Loans up to $2,000
- Funding as fast as 24 hours
- Accepts poor credit
- Triple-digit interest rates
- Numerous bad customer reviews
- Doesn’t disclose many loan details on its site
| Loan amount | $1,000 – $2,000 |
|---|---|
| APR | Approximately 225% |
| Interest rate type | Fixed |
| Loan Term | Undisclosed |
| Turnaround time | As soon as 24 hours |
| Loan amount | $1,000 – $2,000 |
|---|---|
| APR | Approximately 225% |
| Turnaround time | As soon as 24 hours |
First Tech Credit Union
First Tech Federal Credit Union personal loans
4 / 5
★★★★★
First Tech has a slew of member benefits for Amazon employees, including exclusive offers for financial services such as insurance, checking accounts and home loans. In fact, it’ll deduct $400 from your closing costs if you choose First Tech as your mortgage holder. It also offers personal loans from $500 to $50,000, with rates starting as low as 8.79% and capped at 18%. Loan terms range from six to 84 months, and it doesn’t charge application, origination or prepayment fees. It also offers secured loans, lines of credit, auto loans and more.
- Personal loans up to $50,000
- Rates start at 8.79%
- Low minimum loan amount
- Must be a First Tech member
- Need good credit to get the best rates
- Requires a hard credit check
| Loan amount | $500 to $50,000 |
|---|---|
| APR | 8.79% to 18% |
| Interest Rate Type | Fixed |
| Min. credit score | |
| Maximum Loan Term | 7 years |
| Minimum Loan Term | 2 years |
| APR | 8.79% to 18% |
|---|---|
| Min. credit score | |
| Loan amount | $500 to $50,000 |
US Bank
Amazon employees looking to buy a new home may want to check out the US Bank Amazon Employee Mortgage Program. It provides home loans in all 50 states and offers fixed-rate or adjustable-rate mortgages, plus FHA, VA and USDA loans. Among other perks, Amazon employees can deduct up to $1,000 off their closing costs or apply that amount toward items such as homeowners insurance or escrow. You may also be able to include a portion of your restricted stock units (RSUs) or signing bonuses as part of your qualified income.
Rates for US Bank 30-year conventional mortgages start at around 6.8%, although the actual rate you qualify for depends on your credit history, income, loan size and other factors. Loan amounts can go as high as $766,550 for a single-family home or possibly up to $1,089,000 in high-cost areas like Alaska and Hawaii.
- Deduct up to $1,000 from closing costs
- Include signing bonuses and RSUs as income
- Rates as low as 6.8%
- May need good credit to qualify
- Rates can get high for lower credit scores
- Typically need at least a 5% down payment
| Loan amount: | $1,089,000 |
|---|---|
| Min. credit score | 620 |
| Interest Type: | Fixed, Variable |
| Loan amount: | $1,089,000 |
|---|---|
| Interest Type: | Fixed, Variable |
Are there loans for Amazon employees with bad credit?
Even if you have bad credit, being employed by Amazon can help your chances of getting approved for a loan, especially if you’ve been there for a year or more. Lenders are more likely to loan money to people with steady jobs, which makes long-term employment at Amazon a valuable factor.
From our list, Lendly accepts borrowers with bad credit, but it also has incredibly high interest rates. But other lenders, such as Upstart and OneMain Financial, look beyond your credit score and consider other factors to determine loan approval.
What to watch out for
Even if a lender offers loans specifically for Amazon employees, you’ll still want to compare it to other options to make sure you get the best deal. Here are a few other things to keep in mind before taking out a loan.
- Watch the APRs. The APR includes both the interest rate plus fees and gives you a clearer picture of how much the loan really costs. Also, if a lender isn’t up front about its APRs, that’s a big red flag that you might want to look elsewhere.
- Lender reputation. It’s always a good idea to do a little research and read some reviews while comparing rates and loan terms.
- Where you live. Some lenders may not offer loans in your state.
- Stay within your budget. Don’t be tempted to take out a loan for more than you need or can afford, especially if a lender is pressuring you to do so.
Alternative loan options for Amazon employees
If the lenders on our list don’t meet your needs or offer loans in your area, consider these alternatives. You can also check out our guide on types of loans.
- Payday alternative loans (PALS). PALS are small loans offered by some federal credit unions — as alternatives to payday loans — with reasonable rates and loan terms. Look around to see if there’s one in your area that you might qualify for.
- Your own bank or credit union. Sometimes, your best loan option is close to home. If you already have accounts with a bank or credit union, it might be willing to float you a loan there.
- Online lenders. There are a ton of solid online lenders that offer personal loans to borrowers with a range of credit scores. You may also want to consider a loan marketplace like LendingTree to compare multiple options at once.
- Cash advance apps. For smaller loan amounts — typically $500 or less — a cash advance app might be the answer to an immediate cash need.
- Buy now, pay later (BNPL) loans. While a BNPL loan can’t help you out if you need cash, it is an option to make a larger purchase and pay it off in four installments. You may not even have to pay interest as long as your payments are on time.
Frequently asked questions
Where can Amazon employees get a loan?
Amazon employees can get a loan from any lender they qualify for. These options may include the lenders on our list but also those from banks, credit unions, online lenders and other lending sources.
Does Amazon offer financial assistance to Amazon employees?
Yes. While employees can’t get a loan from Amazon, it offers some financial services, such as counseling, estate planning, budgeting and other types of financial help. It’ll also help you pay for college or other education, which could potentially help you avoid taking out a student loan.
How long do you have to work at Amazon to get a loan?
Some lenders may require you to be employed at Amazon for at least a year to qualify for a loan, but others may have more lenient employment criteria.
