BENTONVILLE, Ark. - Sam's Club, a division of Wal-Mart, will work with a finance company to offer loans of up to $25,000 to small businesses. It's the latest in the company's move into the world of finance.

When Wal-Mart applied for a bank charter a few years ago, regulators said no. A charter would have allowed Wal-Mart to take deposits and make loans.

But that rejection hasn't stopped the company from significantly expanding its financial offerings.

The actual lending in the new program will be done by Superior Financial Group, a federally regulated lender. But Sam's Club is promoting the loans, and members will get a discount on the application fee and on the interest rate.

And Sam's Club may expand the types of loans it offers through third parties, the New York Times reported over the weekend.

Sam's Club is a membership-based warehouse store, like Costco, and makes about half of its money from small businesses. Wal-Mart has also been expanding its finance offerings in its retail business.

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