Business and Marketing

AT&T, ExxonMobil, and Rite Aid are among partners enlisted in the coalition loyalty program aimed at becoming America's answer to Canada's Air Miles.

American Express today launches Plenti, a coalition loyalty program whose participating brands include AT&T, Macy's, Nationwide, and Rite Aid. Consumers can sign up for free at plenti.com and earn points using any form of payment partners accept at checkout. As a point of difference from other loyalty programs, Plenti promotes the fact that its points remain active for two years.

American Express purports Plenti to be the U.S.'s first broad-based coalition loyalty program, akin to the Payback program the company runs in Germany, Italy, India, Mexico, and Poland. An estimated two thirds of Canadian households participate in LoyaltyOne's Air Miles program, which distributes points for purchases made with more than 100 partners. LoyaltyOne is a unit of Alliance Data.

With the Plenti card, AT&T customers earn one point for every dollar spent on merchandise or monthly wireless bills. Macy's customers earn the same value for every dollar spent using a Macy's credit card, and Nationwide policy holders get a point for every $3 paid in auto and property insurance premiums. Most partners also distribute points through special offers.

Points can be redeemed when purchasing products from any Plenti partner. American Express states that 1,000 points translate into at least $10 in savings. Members can also redeem points at hundreds of online retailers via the Plenti Online Marketplace.

American Express is also introducing a no-annual-fee Plenti credit card through which members of the loyalty program earn a point for every dollar charged.

ExxonMobil, Direct Energy, Enterprise Rent-A-Car, and Hulu round out the field of inaugural Plenti partners.

Business Breaking News: 15 Creative Financing Methods for Startups

For many would-be business owners, financing is one of the most intimidating and challenging parts of the startup process. Some entrepreneurs may not have the cash they need on hand when they want to launch, and bank loans or investments can be difficult for brand-new small businesses to obtain.

If you can't bootstrap your business, there is a wide variety of both traditional and innovative funding sources you can draw from to help you get started. Whether your goal is to open a local boutique or to launch a tech startup, one of these options is likely to be the perfect fit for your next business.

Small Business Administration loan. The Small Business Administration (SBA) offers two types of loans that can help entrepreneurs get the capital they need to start their business: the 7(a) guarantee small business loan and the 504 fixed-asset small business finance program. The 7(a) guarantee loans are more common for small businesses. Prospective borrowers can apply for these loans at banks that participate in the SBA loan process. But this may not be the right choice for you if you don't have a proven track record. Chuck Evans, co-founder of Prudent Lenders LLC, noted that the SBA typically looks for applicants who are two years into the business cycle and generating cash flow.

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