Thursday February 12, 2015 0 comments
WASHINGTON, D.C. - The U.S. Small Business Administration (SBA) announced it is launching a first-of-its-kind tool on the SBA website that will allow entrepreneurs looking for a small business loan to get matched with an SBA lender.
The new tool, called LINC (Leveraging Information and Networks to access Capital), will require loan applicants to fill out a simple online form of 20 questions and connect them with lenders within 48 hours, SBA said.
"Effective today, LINC will bring entrepreneurs and SBA lenders together," said Maria Contreras-Sweet, SBA administrator. "There's a hunger among entrepreneurs to find financing to get their business off the ground or take the next big step in their expansion plan.
"If you have a bankable business idea backed by good credit and sound financial planning, the SBA wants to streamline the process for you to get the capital you need."
SBA said there is no fee or commitment to use LINC, which will roll out in waves.
SBA said there are currently 124 lenders across its lending programs participating in LINC in all 50 states.
For more information, visit https://www.sba.gov/tools/linc.