BIG News

SBA Unveils Lender Match Tool for Small Businesses Seeking Loans

Looking for an SBA-approved lender near you? The U.S. Small Business Administration has just launched Lender Match, a free online tool for helping small businesses locate the perfect lending partner.

Visit www.sba.gov/lendermatch, and you’ll be asked to fill out a form. Then, in 48 hours, you’ll be contacted by potential lenders that are interested in working with you.

And not just those lenders specializing in 7(a) loans – institutions that deal in microloans, 504 financing and other products are part of Lender Match, too.

“The SBA’s mission to help small businesses grow, create jobs and help our economy thrive is strengthened by the new Lender Match tool. It essentially serves as a matchmaker, making it easier for small businesses to find lenders,” SBA Administrator Linda McMahon said.

“I want to help get more capital in the hands of small business owners and entrepreneurs, and I encourage them to tap into the SBA’s resources for startup and growth solutions.”

Lender Match is the new version of LINC (Leveraging Information and Networks to access Capital), a tool that SBA launched as a pilot back in 2015.

Lender Match allows entrepreneurs to get more specific about the types of financing they need and the lines of business they’re in. The SBA also says the new Lender Match form has fewer questions that are more relevant than LINC’s – the form can be completed in five minutes or so.

In addition to being connected with potential lenders, small business owners can use Lender Match to learn more about SBA resources and how to get ready for the loan application process.

More than 800 lenders are participating in Lender Match. To date, SBA’s online matchmaking tool has made more than 2 million referrals to lenders. There’s no guarantee, though, that a lender will respond or ultimately approve your loan. Lenders followed up in the case of 70,000 referrals.