Sam’s Club and Sam’s Club Giving have announced grants totaling $8.8 million to organizations that help small business owners gain access to capital. This week, the first week of May, is national small business week. The grants will support borrower education initiatives aimed at easing the barrier to entry for many small businesses — inadequate access to capital — especially for businesses owned by women, minorities, and veterans.
“In 2015, Sam’s Club and Sam’s Club Giving announced the Small Business Economic Mobility initiative, a five-year investment in small business growth through increased access to capital and borrower education. The initiative’s first round of grants totaled $13.6 million to eight national nonprofit organizations that provide access to capital and borrower education to underserved U.S. small businesses, including women, minorities and veterans.
Serving small business owners and entrepreneurs as members for 33 years, Sam’s Club launched the philanthropic initiative to respond to the national struggle for small business owners in low-to-moderate income communities to attain affordable loans and navigate the lending process. By bringing together expertise, business initiatives such as the recently announced Business Lending Center and philanthropic investments, Sam’s Club and Sam’s Club Giving are uniquely positioned to help small business owners access affordable capital.” (corporate.samsclub.com)
To read the complete press release, please click here.
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