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    0 Replies Latest reply on Apr 17, 2011 11:07 AM by Zing1234

    Applied for a loan, now what?

    Zing1234 Wayfarer

      Hi Community!

       

      Guys I applied for a business loan from a well known bank. I walked into my banking center and spoke with a nice gentleman about what I needed to finance and we got right to work! he got me a tax ID number and opened a business account with the bank for me. He entered the information for everything I needed on his internal computer system and we essentially applied for three different options. A traditional credit card, a standard business loan thru the bank and an SBA backed loan provided by the bank. The business specialist told me all I needed to do was wait 24 to 48 hours, and an individual from the loan processing center would be in contact with me to either explore more options, or set up some terms and financing for my business venture.

       

      So I've contacted the business specialist from the banking center twice in the last 3 weeks. Nothing from the loan center or department or whatever. One time I called and he checked the status, the loan processing center told him the application was in "Pending" status, as were the other two loan apps he had processed the same way earlier on the day I came in.

       

      Sorry to put it up here, but there is absolutely no valuable information on this online, anywhere. All my searches turn up a couple angry people about their mortgage... boo hoo and all, but still no help on my situation.

       

      If anyone can fill me in on the process or find me some information on how I can follow up with the Loan Processing Center, I'd be grateful.

       

      I'd like to continue to explore my financing options, I just don't want to as my information and requests are apparently in limbo. Please Help!

       

      -Zing1234

       

      ps. I did get a mail response from the CC app, and it was turned down due to my high debt (figured that was coming)