SBA Launches a Dedicated Tool for Small Businesses to Connect with CDFIs, Small Asset Lenders Participating in PPP
The U.S. Small Business Administration has launched Lender Match, a dedicated online tool for small businesses and non-profits to be matched with Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), Farm Credit System lenders, Microlenders, as well as traditional smaller asset size lenders in the Paycheck Protection Program (PPP).
According to the press release, a borrower will receive an email from lenders who have been matched with them within two business days after entering their information into the Lender Match platform. The borrower can see lenders' requests for them to begin an application. Borrowers are then able to begin the application process directly from the email they receive.
Please note: this should not be used if you're looking for disaster loans.