Summary Box: Wal-Mart’s Sam’s Club warehouse chain will offer business loans to members
By APTuesday, July 6, 2010
Summary Box: Sam’s Club program to offer loans
THE NEWS: Wal-Mart’s Sam’s Club chain is teaming up with a lender to offer loans of up to $25,000 to its small business members.
THE BACKDROP: Wal-Mart has made several moves to offer bank-like financial services to customers, in part to help them spend. It also comes as the retailer tries to improve profitability at its warehouse-club chain.
THE DETAILS: Sam’s Club is testing a program with Superior Financial Group offering loans between $5,000 and $25,000 to members who qualify. The program will focus on minority-, women- and veteran-owned businesses.
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