SmartBiz Teams With Sam's Club To Launch Innovative Business Lending Center
SmartBiz will provide Sam's Club's business members SBA loans from $5,000-$350,000 with single digit interest rates and a fast, easy process.
SAN FRANCISCO, June 4, 2015 /PRNewswire/ -- SmartBiz announced today that it is the exclusive platform for SBA-guaranteed loans for Sam's Club Business Lending Center, a convenient digital platform for small businesses that eases access to the capital they need with member-exclusive savings of up to 20 percent on loan fees. As a Business Lending Center participant, SmartBiz will provide qualifying Sam's Club business members with SBA loans with low monthly payments, single digit interest rates, and a simple, streamlined application process. In addition, SmartBiz developed and runs the technology platform that drives the Sam's Club Business Lending Center, now available at SamsClub.com/businesslending.
Sam's Club created the Business Lending Center in response to business member feedback that access to capital was a critical need. Sam's Club has always placed a high priority on supporting its members and continuing to innovate on the services it provides. The Business Lending Center is a convenient platform that reduces the time and hassle of finding the right financing solution by featuring three market leaders that offer business loans, SBA loans, and business credit cards -- Lending Club, Sam's Club Business MasterCard, and SmartBiz. All of these financing solutions offer exclusive discounts for Sam's Club members including reduced fees or cash back rewards through the Business Lending Center.
"Our small business members often cite time and access to capital as two major concerns as they manage and grow their businesses," said Seong Ohm, Senior Vice President for Merchandise Business Services at Sam's Club. "Sam's Club did the homework for our members, choosing SmartBiz as a key pillar of our lending platform, based on their commitments to cutting-edge technology, simplicity and responsible lending. Through this collaboration, our members now have a quick, easy solution to get the financing they need to put them on the path to success."
SmartBiz has changed SBA lending by dramatically simplifying the SBA loan application and funding process. Businesses can prequalify for a SmartBiz SBA loan in about five minutes and complete the intuitive application online within 30 minutes. The normal SBA process can take months to complete; however, with SmartBiz, businesses can receive funds in as fast as seven days after completing the application. SmartBiz offers loans from $5,000 to $350,000 with low 6 to 8 percent interest rates and long repayment terms- a combination that delivers extremely low monthly payments and enables businesses to keep more of their revenue and fund solid, sustainable business growth.
"We are excited to be part of the strongest and most reliable small business network in the US. For the first time together, Sam's Club, SmartBiz and the SBA will be able to offer affordable business finance to millions of small business owners. This makes for a very exciting time for small business owners," says Ryan Gilbert, CEO of Better Finance parent company of SmartBiz. "SmartBiz is an ideal collaborator for the Business Lending Center because, like Sam's Club, SmartBiz strives to reduce the cost and barriers of borrowing for small business and improve the lending experience overall."
With the Business Lending Center, Sam's Club business members will gain access to exclusive offers, including a 20 percent savings on loan fees; the chance to earn up to $5,000 in cash back rewards with the Sam's Club Business MasterCard; and loans from $5,000 to $350,000 with an easy application process and fast funding.
About SmartBiz:
SmartBiz (www.smartbizloans.com) is the #1 online provider of SBA loans $350,000 and under, and leverages advanced technology to dramatically speed up the SBA loan process. Businesses can apply and get funds quickly through SmartBiz lending partners. SmartBiz makes SBA loans easy. The company is based in San Francisco and is a division of Better Finance, Inc.
About Sam's Club
Sam's Club®, a division of Wal-Mart Stores, Inc. (NYSE: WMT), is a leading membership warehouse club offering superior products, savings and services to millions of members in 649 clubs in the U.S. and Puerto Rico. Small business owners can grow their business with Sam's Club through savings on a suite of online services, including legal, payroll, online marketing and payment solutions. To experience small business savings, visit SamsClub.com/services, the Sam's Club Newsroom, shop the Business Center at SamsClub.com, and interact with Sam's Club on Twitter and Facebook.
SOURCE SmartBiz
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