Tuesday, July 06, 2010

Sam's Club to Start Lending to Small Businesses

Sam's Club announced today that they will start making loans to small businesses. These loans can be anywhere from $5,000 to $25,000 and the proceeds do not have to be spent at a Sam's Club.

I have to admit that I've never been a fan of Sam's Club or its parent company, Wal-Mart. However, as a small business owner, I have to say that if something like this begins to put a certain amount of pressure on the banks to start lending again - and I think it will - then I am all in favor of it.

Thank you for doing this, Sam's Club. Thank you.

I wish you tremendous success in your endeavors.

And, as the grandson of a union organizer, I still don't believe that I've said this. It truly is a mad, mad world.

1 comment:

The Words Crafter said...

I'm not a business owner so I really don't understand the significance of this...but I do have a lot of issues with Wal-Mart. I only shop there when I don't have another choice. I try to give my business to places like Target, Bed Bath & Beyond, Best Buy, etc. But, as you said, if it will prompt more business loans, maybe it's a good thing. I'd just be looking at ALL the fine print: http://www.cnn.com/2008/US/03/25/walmart.insurance.battle/