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Sunday, July 11, 2010

A NOTE FROM THE FOUNDER: Who do you trust more for your financing?

Who do You Trust More for Your Financing?

by Adam J. Kovitz

It was recently announced in that Sam's Club (owned by Wal-Mart) is venturing into discounted small business loans through a partnership with SBA lender Superior Financial Group.

Why are they doing this?

Two reasons mentioned:
1.)  They want to make the attainment of funds easier for emerging enterprises, and
2.)  Less altruistically, if the majority of their market are such businesses or consumers who may work for them, if they're funded, there will be more money spent at their stores.

Rival wholesaler Costco also tried providing financing in the past but to dismal results and having gone through three separate financial partners from 2000 through 2007, citing that their prospects already had relationships developed with their banks.

Yet, with the recent economic woes facing entrepreneurs and emerging enterprises, where can one turn to for credit and financing? you trust a bank that has received bail out money in the past or labeled "too big to fail" or do you trust the world's biggest company (Wal-Mart) with over $400 billion in sales? (BP and Toyota are also in the top 5)

From the standpoint of the entrepreneur/emerging enterprise, can so-called "small businesses" really trust any large corporation?

Something upon which to ponder...I would certainly love your opinions on this.

In other news, we are getting ready to launch version 3.0 of our website which includes some exciting new additions to our proprietary suite of services on July 15th.  For other news, please check out this week's Update Bulletin.

We hope you like the new website and all the changes we are making, but more importantly, we hope that we continue to earn your trust.

The National Networker Companies™ and TNNWC Group, LLC
Empowering Emerging Enterprises”
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The Emergence of The Relationship Economy

The Emergence of The Relationship Economy
The Emergence of the Relationship Economy features TNNWC Founder, Adam J. Kovitz as a contributing author and contains some of his early work on The Laws of Relationship Capital. The book is available in hardcopy and e-book formats. With a forward written by Doc Searls (of Cluetrain Manifesto fame), it is considered a "must read" for anyone responsible for the strategic direction of their business. If you would like to purchase your own copy, please click the image above.


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