Tuesday, July 06, 2010

Annals of Small Business Credit: Sam's Club

John is intrigued by the possibility of Sam's Club making SBA Loans. He wonders--will borrowers be able to use their Sam's Club credit cards? My guess is "yes." I gather that one of the more dramatic revolutions in small business world wide lately (that is, aside from Grameen banking) is the growing use of active commercial credit card lines.

Anecdote: my friend Harry was traveling in Morocco a couple of years ago. He signed up for one of those sunset desert camel rides so popular among tourists. The whole gang showed up at the starting time on some remote dune somewhere. The camel wrangler showed up with his short, but it turned out he came up one short. So he whipped out his cellphone and called for backup.

Wonder if he financed the camels at Sam's Club.

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