So, you're a small business owner in need of a loan but the bank's not willing to help. Then, maybe your next stop should be someplace unconventional.
About half the customer base at Sam's Club is made up of small business owners, 600,000 of them who regularly shop at the bulk retail giant.
Sam’s Club Manager Marc White says "they frequent our stores on a daily basis..they use us as their warehouse."
Well, now those owners can also load up on something else, loans, which conventional banks have been denying a lot lately.
In a trial, with a federally licensed nonbank lender, Sam's Club has gotten into the lending business, offering small businesses loans at bargain rates.
And here's how it works: The small business owner through Sam's Club can get a discount on the application fee as well as a discount on the interest rate on loans between $5,000 and $25,000.
The Wal-Mart subsidiary says it's not expecting much profit on the loan program but is hoping more for loyalty from small business owners.
Marc White says "they're struggling with capital and credit and we want to add another service to our benefits here at Sam's Club, providing them a lender"
Sam's Club isn't the only retailer offering their own brand of economic stimulus. Target stores, Toys r Us, Staples, and Office Depot are all offering discounts all to entice customers to spend.