How Walmart and Sam's Club Are Helping Small Business Partners
March 25 2020 - 8:33PM
Business Wire
The following is a statement from John Furner, President
& CEO – Walmart U.S. and Kath McLay, President & CEO –
Sam’s Club:
Walmart and Sam’s Club are central to thousands of American
communities, and we serve those communities hand-in-hand with other
businesses -- businesses that employ many of our customers,
members, and loved ones. Today we wanted to share how we’re
supporting some of these partners as they deal with the spread of
COVID-19 in the U.S.
Rent Relief
As you know, a variety of small businesses operate inside
Walmart Supercenters and Sam’s Clubs - hair and nail salons,
optometrists, restaurant franchises, veterinary clinics, local and
regional banks. We have more than 10,000 leased spaces throughout
the country.
This is a trying time for many of these establishments—just as
it is for so many other businesses across America. Some have had to
temporarily close – or significantly reduce hours and services.
We want to help. That’s why we’re waiving rent for all Walmart
property partners for the month of April, as well as for the
hundreds of eye doctors who operate at Sam’s Clubs. It’s our hope
that this rent relief will help these businesses financially
weather the current situation and take care of their employees.
We’ll continue to monitor the need for additional support past
April. We’re also working with many of our partners to encourage
their impacted employees to apply for the 150,000 temporary jobs we
plan to fill in the coming months.
Supply Chain Financing Program
This is also a difficult time for some of our suppliers: the
companies who produce the products we sell on our shelves and
websites. Capital is increasingly maxed for some suppliers, as
their business models change and shift.
Because of this, we’re making changes to our Supply Chain
Financing program, which is a program where Walmart and Sam’s Club
work with national banks to allow qualified suppliers to get
payments from us faster. We’re improving the program: by adding
dedicated resources to speed up the on-boarding process;
eliminating an eligibility requirement; and adding JPMorgan Chase
as a partner (they join existing partners Citibank and Wells
Fargo).
More than two-thirds of our 18,000 suppliers are small and
medium sized businesses who could benefit from this newly enhanced
program. We encourage them look into it, through our Supplier
Academy system.
Working Together
These are two ways we are trying to help our partners during
this difficult and unprecedented situation. We know that by working
together, we’ll be able to make the greatest difference for our
customers, our members, and for America.
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Molly Blakeman 1-800-331-0085
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