The U.S. Small Business Administration has launched an online tool designed to match up entrepreneurs looking for a small business loans with SBA lenders.
The new tool, called the Leveraging Information and Networks to access Capital, or LINC for short, enables small-business owners fill out and submit a basic online form of 20 questions to connect them with lenders within 48 hours.
The LINC access portal is on the sba.gov homepage.
SBA said a prospective borrower’s answers are sent to every eligible lender in the borrower’s county, as well as to other lenders with a regional or national reach. The agency said lenders are being asked to respond to submitted forms within 48 hours. The process involves no fees.
SBA said the LINC program aims to give small-business operators a wider choice of prospective lenders.
Initially, the agency said 124 lenders across SBA’s loan programs are participating in LINC across all 50 states.
Call The Bee’s Mark Glover, (916) 321-1184.