SBA Complaints and Reviews
RatingsAverage Rating: 1.00 out of 5
Based On: 1 Review
Number Of Comments: 1
Damage ReportsCurrently No Reports of Damages.
Most Recent Review
SBA Disaster Loan Process caused me more stress during the aftermath of Hurricane Sandy
I have a comment/complaint regarding FEMA and SBA with regards to Hurricane Sandy. FEMA knocked on my door and stated I should apply for a grant. I did and I was denied because my house was insured and I received a claim. The claim did not cover all of the property damage. FEMA sends me a SBA application. From November 2012 to February 2013 they had me send in my personal and confidential documents.
Then on Feb. 21, 2013 SBA calls me and states I got the loan. Then SBA calls me and asks if I would rather have FEMA Grant. I told them I was already denied a grant and that’s why I applied to the SBA for assistance. They said ok no problem. Then SBA calls again and says your loan was now disapproved because of a high debt ratio. They said we are putting you in for a FEMA Grant and this time it could be approved based on the SBA Loan disapproval.
In an hour FEMA disapproved the FEMA grant again based on the SBA Loan disapproval. FEMA and especially SBA put me through unnecessary turmoil during a stressful time.
SBA could have figured out my debt ratio from the beginning instead of putting me through months of phone calls and aggravation only to approve then disapprove the SBA Loan on 2/21/13. A high debt ratio? What Middle Class American citizen doesn’t have a high debt ratio in today’s terrible economy? Very few.
I’m a Retired Disabled Police Officer. I pay all of my bills on time all of the time. I have a house with a high mortgage payment because I live in Long Island, NY. I had to co-sign my children’s school loans or else they would not be able to attend college. It’s called reality a normal life of many bills and hard times. FEMA and SBA made my life worse during the Hurricane Sandy disaster. It’s people like me and others that really need these low interest loans because we pay our bills all the time. Maybe I’m better off filing for Bankruptcy. Paying my bills is getting me nowhere.
Just ask SBA who denied my Loan not because I don’t pay my bills but because I have too many bills. Who doesn’t in America today? I have already advised SBA that all of my personal and confidential documents that they requested for the SBA Loan better be destroyed and/ or remain personal and confidential or I will seek legal action.
Thank you for listening.