June 10, 2015
By Bob Coleman
Editor, C-Suite Small Biz Lending Challenges Report
Yesterday I solicited comments about SBA lender’s experience with LINC, the online portal matching applicants with lenders.
Nasr Khan, the EVP and manager of Wallis State Bank’s SBA department told me, “I can tell you from my experience it’s a wonderful tool and working fine.”
“My only issue is that SBA is providing very basic information on the first encounter to make an opinion. We are able to find more about the individual once we opt for the loan applicant.”
“Some of the applicants get excited and they start calling immediately when we opt for the information, they think the bank is quite interested on their request.”
The Houston based bank has funded two loans from LINC, with a third to be completed soon.
On the flip side is this comment, “SBA changed the logon system and right now you can’t even sign up for LINC. Once again, SBA comes up with a new idea and their technical team can’t produce a reliable, workable system.
“I have also heard, so far, the referrals have not been very good.”
But, sounds like a platform you should explore.
For more information contact your local district office — perhaps they can help with the current logon issue — or email LINC@SBA.gov.