The Small Business Administration has launched a new Lender Match tool designed to connect small businesses seeking funding opportunities to a network of SBA-approved banks and private lenders.
SBA said Monday the updated online tool will more effectively link small businesses to lending products with competitive rates and fees to help them start and grow their businesses.
“Enhancing the SBA’s Lender Match tool is just one part of our unprecedented reforms to increase and streamline equitable access to affordable capital so small business owners can continue to innovate, create jobs, and be part of this Administration’s historic Investments in America,” said SBA Administrator Isabel Casillas Guzman.
Through Lender Match, SBA receives 50,000 monthly funding requests from small businesses across the nation.
The platform has nearly 1,000 SBA-approved lenders, 257 of which are community-based, that can connect to potential customers.
Lender Match analyzes a small business’ credit history, business plan, financial projections and industry experience to generate a match.
