Sam’s Club, a subsidiary of Wal-Mart Stores Inc., has launched a national pilot program that will offer small business loans from $5,000 to $25,000 to its members.

Launched today, Sam’s Club has partnered with Superior Financial Group, a federally licensed nonbank lender that provides SBA loans. Sam’s Club members will receive $100 off the $500 application, packaging and processing fee, a 20% discount and a 7.5% annual percentage rate. The term of the loan is 10 years and there is no early repayment penalty. Business memberships cost $35 annually at Sam’s Club. Members can apply online for the loans.

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