Small Business Growth Corporation, Springfield, IL

Regrettable decision to start down the long and tedious path of a 504 loan with Growth Corp. I have obtained other SBA loans and patiently waited through the process and met timely expectations for returning paperwork. Growth Corp held my complete application for more than 6 weeks (with no comment or correspondence) and indicated a close date of October 1 was “right on track for FY22.” Then they stopped answering all forms of communication. For weeks. This completely stalled the progress on obtaining the SBA commitment and even staying on track with proceeding towards the purchase of my property. After multiple extensions the seller refused to extend any further. Growth Corp wouldn’t reply after weeks of calls and emails, not from me and not from the bank. But luckily the bank extended a traditional mortgage at the last minute or I would have LOST the PROPERTY. I’m already going to pay an additional $30,000 in interest on the loan but what’s it to them? The head of the company finally responded to a message from me and blamed the “possible government shut down”… but we all know zero communication for weeks from lending support is unacceptable and unprofessional. With their reply back we could have closed on October 1. Who needs the hassle of this from a firm who is supposed to help an already challenging process? The bank involved was horrified.

Regrettable decision to start down the long and tedious path of a 504 loan with Growth Corp. I have obtained other SBA loans and patiently waited through the process and met timely expectations for returning paperwork. Growth Corp held my complete application for more than 6 weeks (with no comment or correspondence) and indicated a close date of October 1 was “right on track for FY22.” Then they stopped answering all forms of communication. For weeks. This completely stalled the progress on obtaining the SBA commitment and even staying on track with proceeding towards the purchase of my property. After multiple extensions the seller refused to extend any further. Growth Corp wouldn’t reply after weeks of calls and emails, not from me and not from the bank. But luckily the bank extended a traditional mortgage at the last minute or I would have LOST the PROPERTY. I’m already going to pay an additional $30,000 in interest on the loan but what’s it to them? The head of the company finally responded to a message from me and blamed the “possible government shut down”… but we all know zero communication for weeks from lending support is unacceptable and unprofessional. With their reply back we could have closed on October 1. Who needs the hassle of this from a firm who is supposed to help an already challenging process? The bank involved was horrified.