SBA Administrator Announces Major Expansion to LINC Online Tool that Matches Entrepreneurs and Lenders is Now Available to All 7(a) Lenders Nationwide
The head of the U.S. Small Business Administration Maria Contreras-Sweet announced a major expansion to the recently launched online tool LINC, Leveraging Information and Networks to Access Capital, a platform that matches entrepreneurs with SBA lenders. Administrator Contreras-Sweet made the announcement during her keynote speech at the National Government Guaranteed Lenders annual conference in San Antonio, Texas, while on her nationwide tour for National Small Business Week, May 4-8.
“Effective today, all SBA lenders can participate in LINC, a platform that is bringing entrepreneurs and SBA lenders together to increase access to capital. 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. The SBA stands there ready to help them, now with a few simple clicks,” said Contreras-Sweet.
LINC was originally launched last February as a pilot program and was available only to nonprofit lenders. The LINC matchmaking tool is now available to all 7(a) lenders nationwide, which constitutes a huge step toward giving small business entrepreneurs access to essential sources of capital in all 50 states and the U.S. territories.
“Since we launched this program in February, close to 14,000 matches have been made, and I have personally heard about the great success both our lenders and our entrepreneurs are having with LINC. If you have a bankable business idea backed by good credit and sound financial planning, the SBA is streamlining the process for you to get the capital you need,” said Contreras-Sweet.