Sam’s Club Whitepaper Helps Small Business Navigate Loan Approval

As part of their ongoing commitment to be a resource for small-business owners, Sam’s Club has developed a series of educational articles designed to help entrepreneurs of all kinds succeed.

Catherine Corley, vice president in Membership and Marketing at Sam’s Club, has contributed to the second piece in this series, specifically focused on how the economy has impacted small-business loans and suggestions for small-business owners to get their loan approved.

Getting a business loan in today’s economic climate might seem like an impossible task. Sam’s Club is committed to making sure small-business owners succeed, and publishing this article is just one way that we continue to serve as a resource to them.

“Getting a business loan in today’s economic climate might seem like an impossible task. The truth is that while credit guidelines are tightening, there are still options for operators who qualify to find the funding that they need,” said Corley. “Sam’s Club is committed to making sure small-business owners succeed, and publishing this article is just one way that we continue to serve as a resource to them.”

The article, titled “The Big Picture: Small-Business Loans in Today’s Economy,” starts out by addressing the impact the economy has had on the increase in small businesses and outlines the many types of small-business loans available. It goes on to detail how operators can obtain and use small-business loans, key elements they should consider before requesting a loan, and the basics for the application process. The article also covers government assistance—provided by measures such as the 2009 Recovery Act—and tax credits that could be easily overlooked. And finally, Sam’s Club shares expert outlooks on the future of small-business loans.

Sam’s Club estimates that more than 600,000 small-business owners or their employees walk through its doors every day. In addition to quality products, Sam’s Club also offers small-business members access to affordable health insurance and other services, such as merchant credit card processing solutions and time-saving solutions including online ordering through “Click n’ Pull.”

Business members can shop at Sam’s Club when it’s convenient for them, with clubs open seven days a week and special “Gold Key” shopping hours exclusively for business members. And unlike most distributors, Sam’s Club does not require long-term contracts or minimum purchases, which can keep inventory costs lower and help with cash flow. Members can simply buy what they need, when they need it.

Additionally, the opportunity to request a cost comparison is available at any Sam’s Club location, by calling 800-726-7258, or going online to samsclub.com/smallbusiness, where related resources and tips from business owners are also available.

Year to date, Sam’s Club estimates it has identified more than $700 million in savings for small businesses, and in 2009 Sam’s Club associates personally contacted more than 250,000 small businesses to help them identify ways they could be saving.

The Sam’s Club commitment extends beyond its business members to the communities where they live and work. Sam’s Club supports the Small Business Administration, the National Restaurant Association, the U.S. Chamber of Commerce and the National Federation of Independent Business, whose initiatives protect the interests of small businesses.

You can download a copy of the whitepaper at http://samsclub.com/smallbusiness.

Category: Business Tips & Resources