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.
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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.