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SBA Launches Online Loan Matching Service

SBA has developed a new online tool called LINC, which stands for Leveraging Information and Networks to access Capital. LINC is an online loan matching service that helps connect potential borrowers with SBA lenders who can provide them with the capital to start and grow their businesses. For years, commercial lending clearinghouses have offered similar services, but unlike those organizations, SBA will be providing this service for free.

The tool is rolling out in waves, first to nonprofit community lenders that specialize in "microlending," Community Advantage loans, and CDC/504 loans. In the longer term, SBA will look to add more traditional banks that offer a wider array of financial products.

LINC starts with an online form for borrowers, containing the information that matters most for lenders. The form, which contains twenty questions, takes approximately five minutes to fill out. Prospective borrowers may immediately go to www.sba.gov/tools/linc to check it out or apply.

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