Navy FCU Bank Account Or Service Complaint

Navy FCU Bank account or service department,

Other bank product/service Account opening, closing, or management Maryland

I applied for Business loan products at NFCU whereas I believe the loan analyst - - - - - is not properly trained or using discriminatory practices. I submitted all required documentation on - -. On - - I asked how long is the processing time frame? - - stated he 'd have a decision by the following week. The following week he reached out only to ask a question already answered on my application. " Which property would be used as collateral? ". After not hearing from him by - -, I reached out asking for a status. Only then, Me. - told me the NFCU had implemented a new process that required a new application to be completed and the processing time would be delayed until the following week, etc. I began to complain and ask when were you going to tell me .... as I have been waiting for weeks for an update. - - became defensive but promised a decision that Friday ( 2 days later ). His decision was " denied '' based on the following reason which are unsupported and contradicted below.


in - -. The comparables has since risen based on recent property sales. Also, the property is free and clear with no outstanding mortgages, liens, etc and produces $1500.00 in monthly rental income deposited into my NFCU business account. In summary, I would be borrowing less than 50 % of the home value of a free & clear income producing property. The risk is very low here. Second, this is a business loan whereas I pledged as a personal guaranty. My guaranty should only be an added valued. Why is the loan decision based solely on my personal credit history? It does not appear they considered the business income, collateral or anything business related here. In contradiction to the above, I have been approved for a few loans with NFCU over the past year 1. ) in - - a credit card for $25000.00 ; 2. ) in - -, a personal loan for $8000.00 ; 3. ) the most recent was - of - ( 2 months ago ), NFCU approved me for a $25000.00 personal loan with no collateral which contradicts the above statement regarding " poor credit performance '' with NFCU. Over the past 20 years with NFCU I have been late less than 3 times but never over 30 days late whereas it impacted my credit report. I think that - - made an unfair decision in haste and out of resentment because I complained or perhaps he is not properly trained. I am requesting a thorough review of my application be performed and the questions below answered. 1. ) What are NFCU practices regarding business loans and ; 2. ) Did - - - follow the practices accordingly?