Sam’s Club now offering small business loans
BENTONVILLE, Ark. — Wal-Mart’s warehouse chain Sam’s Club says it is offering small business loans of up to $25,000 to its business members.
The division of Wal-Mart Stores Inc., which is based in Bentonville, Ark., is testing a program with Superior Financial Group, one of 13 federally licensed non-bank lenders, and will offer $5,000 to $25,000 loans to members who qualify.
Sam’s Club says 15 percent of its business members reported they were denied a loan in a November survey.
The program will focus on minority-, women- and veteran-owned businesses.
Sam’s Club members who apply for a small business loan during the pilot will receive $100 off the application fee, a 20 percent discount and a discount on interest rates.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- JACK WEATHERLY: Finding a house, defending a neighborhood, finding a voice
- Top 40 Under 40
- Terminal upgrade on indefinite hold at Jackson International Airport
- Bids on reworking Interstate 55 stretch are rejected
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- MDA to close all its regional offices
- CFPB wants repay ability at center of new payday loan rules
- Top 40 Under 40 (digital magazine)