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SBA ARC loan 2009

by gwenn, Window Shopper

  • Created: July 10, 2012, 7:23 am
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I have a business that applied for and was granted a non-interest small business loan in 2009. We have a signed copy of the loan signed by SBA, the Mohave State bank in Az. In March of 2012, the bank said that SBA canceled the loan. The company has not heard from SBA direct. The bank is insisting that the company sign a new interest bearing loan at the rate of 6%. Has any one else had this problem? Thank you Gwenn Herring
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kmurray | Community Moderator | 7/11/2012 - 4:50 pm

Hi Gwenn, It's best to get in touch with your district office for this inquiry. You can use the SBA Direct page to locate the office nearest you: http://www.sba.gov/sba-direct Best of luck!