SBA Improves the Lender Match Tool

March 5, 2024

Delaney Sexton
Contributing Editor

SBA Improves the Lender Match Tool

“The Biden-Harris Administration’s economic agenda has ignited a historic Small Business Boom, with 16.5 million new business applications filed since President Biden took office — and the SBA is committed to working in partnership with banks and private lenders to meet all of our businesses where they are, including online,” says Administrator Guzman. “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.”

Yesterday, SBA Administrator Guzman announced the launch of the enhanced SBA Lender Match platform. The tool helps borrowers seeking to start and grow their business find a suitable lender and SBA lending product. Now, borrowers can view all their matched lenders in one place. That allows them to easily find and compare lenders and decide where to apply for a loan. If the small business is not matched to lenders, they are connected to SBA’s local network of free advisors to assist them with getting capital-ready.

The Lender Match tool also streamlines the process for lenders. Borrowers are verified and screened for fraud when they use the platform. Almost 1,000 lenders, including 257 community-based lenders, are able to connect with potential customers and earn their business on the platform. Each month, SBA receives about 50,000 requests for capital through Lender Match.

“The enhancements to the SBA’s Lender Match platform make it easier for lenders to understand the true needs of a business owner and ultimately get them the capital they need,” says Mike McGinley, Head of Small Business Banking, Live Oak Bank. “Seeing basics about the business, industry, and request summary, as well as interacting through the back office, will be meaningful to our ability to better serve these businesses.”

SBA Press Release