• July 6, 2010

Walmart says its Sam's Club division is testing out a small-business loan program, in partnership with Superior Financial Group, making loans of anywhere from $5,000 to $25,000 to qualifying Sam's Clubs members.

Citing research from the National Federation of Independent Business, the Bentonville, Ark.-based retailer says only half of small businesses that tried to borrow last year got all or most of what they needed, down sharply from 90% in the mid-2000s.

The company says the test is the first of its kind, and that it will complement Sam's Clubs "other offerings that cater to small business including low rate merchant credit card processing, convenient order-ahead programs and early shopping hours."

Walmart has spent the last several years boosting its financial services offerings, especially in markets it considers underserved, such as those without regular checking and savings accounts.