The Small Business Administration (SBA) announced on Wednesday the creation of a new online marketplace for small business owners. The Leveraging Information and Networks to Access Capital (LINC) marketplace will make it much easier for owners to locate loan lenders from across the U.S.. What makes LINC a better option than others like Biz2Credit and On Deck Capital, is its easy online application process and annual percentage rates. To start the process, visit the LINC homepage. From there, business owners will have up to answer a 20-question questionnaire about the business (i.e. number of employees, annual revenue, industry type, amount of loan desired, what will the loan be used for, etc). In two days, the LINC system will match owners with a list of potential lenders. SBA does not guarantee a loan approval. It is still up to the lenders discretion to approve the loan. The best part is that through LINC, loans will subject to an annual percentage rate no more than 10 percent. This is a far cry from other marketplaces that subject you to much higher rates.
