Small Business Finance News
Sam's Club To Offer Small Business Loans
Written by Jenna Weiner
Wal-Mart subsidiary will provide up to $25,000 in loans to small business owners.
A recent announcement by a well known franchise came as welcome news for entrepreneurs looking to secure funding.
Sam's Club recently announced that the company would be offering small businesses up to $25,000 in funding for those that qualify. The company, which is a division of Wal-Mart, is working with Superior Financial Group, a federally licensed non-bank lender, to lend between $5,000 and $25,000. The company says that it will focus on minority-, women- and veteran-owned businesses in the new venture.
"We believe this pilot program is a step in the right direction to help fuel small business growth and create jobs to stimulate our economy," said Catherine Corley, vice president of membership at Sam's Club. "It's also simple to apply and costs less, which is consistent with our goal to help our members make smart choices and provide superior value."
Sam's Club and its parent company, Wall-Mart were in the news recently after the franchise helped raise $20 million for U.S. Children's Hospitals for a Children's Miracle Network Campaign. The company has supported the Miracle Network since 1987, and customers at the store have raised more than $530 million.
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