Sam’s Club Tests Online Small Business Loan Program for Main Street

To help support small business and its business members, Sam’s Club announced it is testing an online program with Superior Financial Group, the Nation’s leading Small Business Administration (SBA) lender, which would make $5,000 to $25,000 loans available to its members who qualify. In a November 2009 state of small business survey conducted by Sam’s Club, nearly 15 percent of its business members reported being denied a loan to run their operation, up from 12 percent in April 2009.

The Sam’s Club small business loan pilot program is a first-of-its-kind and will complement other offerings that cater to small business including low rate merchant credit card processing, convenient order-ahead programs and early shopping hours.

The Sam’s Club small business loan pilot will focus on serving Main Street minority, women and Veteran owned small business owners as well as micro-entrepreneurs under the SBA’s Premier Outreach Express products such as Community Express, Patriot Express and Export Express loans.

Click here to read more.

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