Siegel Financial Group - Siegle Financial Group

Philadelphia, Pennsylvania 0 comments
Not resolved

Should be renamed "Shyster Financial Group". They took a $1500 application fee from me knowing full well that what they promised (an unsecured SBA loan @ 6.75%) would not come to fruition. They made me jump through a thousand hoops to put together a loan package the likes of which I've never seen--we talkin' a phone book of information to borrow a lousy $100k. Anyway, long story short, I made it VERY clear from the beginning that I was ONLY looking for an unsecured business loan. The broker assured me that this was what he was putting my application in for. I would not have applied otherwise as I have many avenues for financing. I was not new to business ownership and, at the time, already owned/operated three successful franchises. Well, the approval came back with a requirement for my house as collateral. Haha, really? Is this a joke? I have a HELOC on my house right now that I can use for up to $150k--no application, no fee, just write a check. *** told me that that's what I should do then because real estate is now required to collateralize ALL SBA loans due to tightening requirements. Oh no, loser, that's not what you said on the front end before you cashed my application fee. When I attempted to recoup my $1500 I was told by the owner (a lawyer"”yep, uh huh!) that it was "non-refundable." Really? Even when your employees blatantly lie? He eventually agreed to refund half. Still haven't seen a dime of it.

SFG Business Services

101 E 8th Avenue, Suite 301

Conshohocken, PA 19428

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