Walmart, Sam’s Club announce rent relief for small businesses in stores

Coronavirus

BENTONVILLE, Ark. (KNWA/KFTA) — Walmart and Sam’s Club announced on Thursday that the companies will waive rent for the month of April for the small businesses that operate inside their stores.

These include hair and nail salons, optometrists, restaurant franchises, veterinary clinics, banks, and more. The rent relief will also apply to eye doctors who operate at Sam’s Clubs.

In total, the companies say they’ve leased more than 10,000 spaces throughout the country.

“It’s our hope that this rent relief will help these businesses financially weather the current situation and take care of their employees,” said Walmart President & CEO, John Furner, and Sam’s Club President & CEO, Kath McLay in a blog post published Thursday.

“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.”

The companies say they’ll also support suppliers by making changes to its 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 faster.

Walmart says its 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).

“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,” the company said.

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