Kim Gordji
Google
Dealing with a small business administration in Colorado Springs for the last few years has been a bad experience from beginning to end. We applied for a loan to buy our business and was turned down after waiting & 2 1/2 months of paperwork and communication. They let us know with a cold Voicemail saying nothing more than “your loan request has been denied.” Thanks!! We decided years later to give them another chance once we decide to purchase the building that our successful business was in! They will only loan half the amount you need so we got FirstBank to approve the first half (They are awesome to work with by the way) The sba on the other hand, beginning with the red tape/hoops we had to jump through in order just to get approved for a loan for HALF a commercial building has been the opposite! Then, every year we’re supposed to provide them with all our personal financial information, I guess to make sure we can pay? Consequently, I am now trying to rid myself of this organization by paying off and re-financing our loan with the bank (who is happy to do it by the way.) I have to pay six months of loan payments as punishment and $2000 in fees which total over $11,000 just to be released from this loan. We also have to wait two months for this loan payoff to close. I thought the small business administration exists to help local businesses? Now it’s clear they are more interested is helping their “private investors” rather than help small businesses. That’s why we use them in the beginning. Now, my view has seriously changed. Think twice people, think twice! This review is coming straight from someone they actually approved! How crazy I must be to think they are there to help the “little guys!” I can’t imagine how many are turned away!!!