Time to Startup!

The BizFilings blog covering business tips and trends.

Attention Sam's Club Members: The Online Small Business Program is Now Available

Published on Jul 22, 2010

Summary

Read our article, 'Attention Sam's Club Members: The Online Small Business Program is Now Available' at 'Time to Start Up,' the small business blog by BizFilings.
smallbizloanappAs Entrepreneur Magazine has pointed out, small business is drawing a lot of attention lately relative to the economic recovery plan, but lending to small business is still down from what it was two years ago. But there are companies out there trying to support the efforts of small business. A press release issued from Sam's Club reveals that the retail giant is now testing an online program with Superior Financial Group, the nation's leading Small Business Administration (SBA) lender. According to the press release, the lender "would make $5,000 to $25,000 loans available to its members who qualify." This 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." Sam's Club members who apply for a small business loan online during the pilot are eligible to receive a $100 off the application fee, a 20 percent discount and a 7.5 APR. If you're interested in learning more about the small business loan pilot program, visit www.samsclub.com and click on the Services tab. Additionally, Karen G. Mills, head of the SBA, was recently interviewed for Entrepreneur Magazine and offered microloans as a funding source. "We have 170 intermediaries making microloans. We have about 5,000 banks who have SBA loans, and there are a variety of SBA loans, depending on the purpose of the loan, whether it's to buy a building or whether it's to finance inventory. So the most important thing is coming into the situation with a clear idea of what it is you want to do to grow your business." Do you have advice to share with fellow entrepreneurs and small business owners when it comes to funding resources?