SBA introduces upgraded lender referral tool | nnbw.com

SBA introduces upgraded lender referral tool

Special to the NNBW

The U.S. Small Business Administration, will launch Lender Match, the SBA's free online referral tool connecting small business borrowers with participating SBA lenders.

Lender Match is an upgraded system to LINC (Leveraging Information and Networks to access Capital), introduced as a pilot in 2015. Its function, design and user experience make it easier for entrepreneurs to use and connect with potential lenders.

After lenders have reviewed the information submitted to them by entrepreneurs, those who express interest in the loan will respond within two days. In addition, borrowers will also receive counseling information and resources from the SBA within their local area.

Lender Match is available to all SBA 7(a) and 504 lenders nationwide, including nonprofit lenders that offer free financial advice and specialize in micro lending, loans in SBA's Community Advantage program, and the SBA's CDC/504 loan program. Lenders must be an approved SBA lender in good standing to receive borrower referrals.