ACE | Access to Capital for Entrepreneurs Fair St, Atlanta

I received a small business loan from ACE and Philip Thomas was my Broker. Philip is very efficient, and he has a great personality. I like the fact that he kept me informed throughout the process.

I applied as an established company with 4 years in business requesting working capital to expand my lines of business. I had all my financials and documentation along with a business plan for the expansion. I was told I didn't have a enough cash flow to justify a loan. The denial letter came via e-mail and stated "SERIOUS DELIQUENECY" in all caps as one of the reasons. I watch my personal and business credit daily and there are no delinquencies on either. When I asked for clarification my assigned account rep ignored me. I also asked what was the cashflow percentage they calculated and received no response. From a professional standpoint, they could have just denied my application or said they not giving out loans to trucking and warehousing companies as they are too risky. I could have accepted that much better. I don't understand their reason for lying to deny me. I also don't understand the reason for not responding.

Seems like they are satisfied with just getting your application fee, which is nominal. A whole lot of runaround and buck passing to underwriting etc.

My experience wasn't good at all. Administrative team was not responsible to my application. Sent dozens of emails and made a plethora of phone calls trying to get an update. Literally gave up.