U.S. Small Business AdministrationReviews 55

Applied for the SBA loan and was granted. At the time, interest rates were going to be 1% but changed to 3.75% which is not that great, just ok. Which is higher than current mortgage rates. Loan term 30 years. Loan amount 27,300 with a payment of 134.00 a month. Payments for me are not due yet however, as most already know. You can highly reduce the loan term buy starting to make payments now. Even though my payments are not due yet. I sent in one regular payment and one for principal only. Interest is based on principal amount of the loan. Come to find out, this isn't doable. All payments go to interest first. The SBA loan may still be a good option for some that are credit strapped. For me and others in similar situations. It would have been better if I refinanced with a home equity loan at 3.25% same loan duration and and home refinance, one can make payments on principal only as long as payments are current. In my honest opinion, for it to be a Covid 19 disaster relief loan" it should be at least as what is available on the open market, but it's not. Run your numbers before considering this route

One star is significantly more than this company deserves. We've been dealing with them for about 5 months now and have gotten nowhere. After being denied from every other assistance program out there because of our jobs, we were finally preapproved for our loan with SBA. We waited, and waited to get further information... until they called us on the last day of application acceptance to tell us that the IRS sent back our transcript request to SBA one week before informing us due to the request being illegible. They told us that if we didn't get other paperwork sent in THAT DAY that our application would be withdrawn. I was unable to get it done so late in the day, so it was withdrawn and we had to reapply, which we did the following day. Weeks went by and we were never given further information about the application. Calling customer service was a waste of time because we were told our application was "under review" every single time; as if it was scripted. They told us they could not give us any help and to just wait for someone to contact us further. The only loan officer that I had contact for, and who did ANYTHING to help us was our initial loan officer, Brenda Harrington, who supposedly contacted her team lead to help us, but eventually blocked me from email and left us in the dark, yet again.
Now I'm seeing that our application was withdrawn, yet again, and no one could respect us enough to inform us of that. The entirety of SBA is a joke and waste of time.

Just because you're a government-based organization doesn't mean you don't have to provide customer service and answer questions by customers who need some more in-depth information. If you were an independently owned company, you would be out of business. I've never, ever experienced such rude pieces of garbage in my entire life.

I have sought advice from our local SBA in Clarion County, Pennsylvania on at least four separate occasions between 2006-2020, and I have yet to make any REAL progress in improving my business skills. The specialty of the SBA is their free, introductory workshop, which I have taken twice. After Christmas of 2019, I was ghosted by my "advisor" and now I am on my own again. The SBA is of no help! Embarrassingly disorganized and inefficient!

I could write an essay and dealing with the SBA. SBA been one of the worst government agencies I've ever dealt with. I was approved for an SBA loan three months ago. Still have not received the money that I signed for and I was approved. That I was told would be in my account in 3 to 5 days. I have listen to four different account representative give me 20 different stories. And always tell me don't worry you'll be getting your money we just need to send it back to your account. I have talk to people at the SBA that I've got fired and left go without the SBA picking up their email or their phones leaving Go for days and weeks wondering why no one would answer me when it turns out he Attorney\representative that was working with me doesn't even work there anymore. Now they say they reinstated new guidelines and I have to reapply remind you I have all the approved paperwork I signed up as a personal guarantor for Loan,
The paperwork shows that the timeframe of the 30 year loan is already working away at the Fre. Upon year I've already lost three months without even receiving the money I was told the loan will be funded within 3 to 5 days and now after three months they're telling me I need to reapply because They have new guidelines. They have now asked me to Sign what would be fraudulent documents requesting tax returns for the Llc company wasn't even existence for the time lines for the register tax returns. This is the most messed up federal run program I have ever seen in my life and I can assure you they are driving people in a bankruptcy instead of helping them. Good luck on receiving your money. And if you've received it within the timelines you are blessed.

Over Three months ago I submitted my application for a loan for my small business which was approved after having signed and accepted the conditions. This is the date(three months) that the money has not yet been deposited in my business account, on my first call(one month after application) to confirm what happened the answer was error in routing number and that was a personal account okay. The route was changed, the account number was changed to a business account. Two months later after several calls the same. They tell me to call the bank. I been to the bank three times and the answer is the same SBA have not deposited the money. I sent two emails to the SBA customer service department and they haven't event had the grace to communicate with me back.It's a shame that small businesses like mine have to suffer abuse of this powerful government institution and less in the middle of this moment of crisis. SBA.gov exists to provide assistance and help to small businesses. We are the reason for its existence. We pay for its existence. SBA work for us and not the opposite.

For the biggest portion of SBA, I know they are very helpful in helping people establish and run different small businesses. They help you with loans and different issues that you might have with your business. My issue today Iwith them, is that the website is not working that you can apply for the application of the covid-19. It
Will not allow you to get past the first page it's it's just locked and that's my only issue with SBA

In the middle of a global pandemic, the SBA has denied my company's loan / "grant" - lol due to a low credit score. Congress passed into law that ALL small business would receive a grant of 10,000. The SBA then violated the new law by changing the rules to 1000 per employee. Then after waiting MONTHS for an answer from the SBA, we were issued a denial letter because of a few late credit card payments from over four years ago... Funny how the SBA can defy congress and nothing is said, meanwhile people are going out of business.

The Small Business Administration has a resource website offering SNIPPETS of info for people starting out and building small businesses.

There's an option to be paired with a mentor and on the site is a statement that someone will try to call you twice and the third attempt will be email.

You cannot submit your request without entering your phone number, even if you tick the selection that indicates you prefer to use email.

It has been 3 weeks and I have not been contacted by anyone. If I have been, they never bothered to leave a message (absolutely IMPERATIVE in business; NO ONE answers calls on their mobile phone they don't recognize).

I have never received an email, either, so it seems this site is some sort of government tax write-off for uncle Sam; something thrown together to give the appearance of being helpful, but no working parts.

The links: I fit the women's veteran category, so I signed on with the Chicago chapter, and was slammed with emails from every state involved because the owners say there is no way to be on the mailing list for one city. FAIL.

This site is mostly worthless, in my opinion. Like any government agency that would consider ME worthless, it's a loop of specific unspecified (you read that right) data that still has to be verified state by state, city by city, and business category by category.

More frustrating trouble than it's worth, especially since the robocalls have increased exponentially since submitting my contact info. Not surprising.

http://www.sba.gov/healthcare is the place you need to go to learn more about the Affordable Care Act. I am including the link here because I do not think sitejabber has the ability to review individual links and only entire websites. This is a good starting place to learn about the Affordable Care Act and how it will affect your business. The most important part of the website as it pertains to health care reform is located here along with downloadable pdf files. I would just read all of these to begin understanding the entire process. http://www.sba.gov/content/affordable-care-act-training-materials