Wal-Mart family backs small-loan lender to Hispanic community

07/26/2013 | Bloomberg Businessweek

Wal-Mart Stores' founding family is edging into the financial industry with an investment in Progress Financial, an institution that targets Hispanic consumers who don't have a bank account. Borrowers receive loans on a purchase card, which they can use as a debit card. Progress Financial has lent $550 million since 2006.

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