World's biggest retailer, Wal Mart is testing waters in the online loan business segment. This is being done with the help of its Sam's Club unit. The program is being undertaken along with Superior Financial Group LLC and the target audience is going to be the small businesses which are looking for capital.

Members of Sam's Club can borrow capital from Superior Financial up to $5,000-$25,000 and the demographics of the target audience include the minorities, women and military veterans.

During November, around 15 per cent of Sam Club's members were denied loans, which was up from 12 per cent during April last year.

Looking at this as a business opportunity, Wal Mart came out with this idea. Besides this, around 50 per cent of small businesses were either denied loan or were not given the amount that they had asked for.

Any member by paying $35 as membership fee can become eligible for the program and they need to pay an annual interest of 7.5 per cent for a period of 10 years.

Superior Financial is a licensed firm by the U. S. Small Business Administration as a non-bank lender.