Amazon is becoming more than just an e-commerce platform. It already has a hand in just about any business you can think of – automobiles, fitness, apparel, electronics… But, if Amazon’s marketplace isn’t enough evidence, check out its recent purchase of Whole Foods for $13.7 billion.

That isn’t even all Amazon is up to.

Recently, Amazon has delved into small business lending. Their platform, Amazon Marketplace, was already a space to let small and medium sized companies sell their products throughout the globe. Now, they’re lending to those businesses.

What is Amazon Lending?

This year Amazon has issued more than $1 billion in small business loans. These loans range from $1,000 to $750,000. Amazon said many sellers have used this money to expand their inventory and discount items on Amazon Marketplace. More than 20,000 small businesses have received loans from Amazon.

How can you get an Amazon Loan?

Unfortunately, Amazon’s program is invitation only. But, they have issued loans to thousands of companies in the United States, U.K. and Japan. This innovative program may benefit many small businesses and, of course, Amazon, but it may also hinder banks and large retailers that are already struggling to keep up with Amazon Marketplace.

The millennial generation is completely different than past generations. They want quick results and quick transactions. Amazon provides this ease with their online loan program.

Many banks have yet to set up online loan applications. If they fail to update the way they do business, they can run into similar trouble that large retailers are experiencing because of e-commerce sites like Amazon.