The Sam’s Club Giving Program and CRF began collaborating to expand access to capital for entrepreneurs in 2010. Over the course of the last five years, Sam’s Club Giving has provided CRF with more than $4.3 million in grant funding. These grants have been instrumental in CRF’s ability to deliver more capital to small businesses across the country and provide technological innovations that expand the capacity of CDFIs and other mission lenders. Click here to read about the most recent $2 million grant to CRF.
Since 2011, Sam's Club and the Sam's Club Giving Program have awarded $28 million in grants to non-profit organizations dedicated to improved training, education and increased access to capital for small business owners and in 2015 announced a five-year Small Business Economic Mobility initiative. In addition to supporting opportunity for entrepreneurs, Sam’s Club is dedicated to sustainability and in 2015 alone, provided 64 million meals through donations to Feeding America and recycled more than 515,000 tons of cardboard, plastic, paper, aluminum and food waste. Sam’s Club also provided community grants contributing $6.5 million to local nonprofits and more than 216,000 Associate volunteer hours.
“Small businesses are the heart of our nation’s economic engine and the biggest job creators, yet they are more likely to fail than reach their full potential due to a lack of access to capital and training,” said Kathleen McLaughlin, President of the Walmart Foundation, which oversees the Sam’s Club Giving Program as part of its Opportunity focus area. “We have ambitious goals to support small business including enabling 5,000 new micro and small business loans adding $100 million in new capital from non-bank Community Development Financial Institutions, and ultimately supporting 28,000 jobs in the small business community. We appreciate CRF’s commitment to small business as well as its approach to transform the sector and foster system change in small business access to capital.”