Program will focus on minority-, women- and veteran-owned businesses
BENTONVILLE, Ark. — Sam's Club said Tuesday it will offer small business loans of up to $25,000 to its small 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 nonbank 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. That's up from 12 percent in April 2009.
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.
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3 comments:
Why is everyone so ready to give minorities a deal. Affirmative action should be done.
wheres the ACLU now? that sounds like discrimination to me!
I've read this is also for small, veteran owned businesses which may help many of these types of businesses that are having a tough go of it right now because of the economy.
Rachel Flack
VeteranOwnedBusiness.com
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