CDC Small Business Finance

I was shopping for an SBA loan, and had some difficulties online. I found CDC small Business Finance on accident, and feel so blessed to have found such and amazing company right here in San Diego that could help me. Lots of paperwork and details but the CDC staff is top notch and made it a really easy process!!!
Nov 28th, 2023

Its almost impossible to get a hold of anyone in this company, its been months that I have applied for loan, no one bothers to reply, and tell me whats the status of my application. Im not even sure if they are operational anymore, no one answers phone or email, just voicemail and no one returns my call
Jun 29th, 2023

After reading the reviews I share some of the same experiences as others with a one star reviews. This organization is a nonprofit organization which I feel is a scam. I provide all my financial information to them and have been ran around in circles. Their response time is very slow. Avoid this company at all cost. Take my advice and please find another way. This was a horrible experience. I honestly feel that all good reviews they do have are fake.
May 31st, 2023

Unprofessional
Aug 22nd, 2022

I wish I wouldve looked deeper into this lender before I used them. I was coming from and bad lender and it seems to be a trend with CDFI lenders. Initially, they were attentive, easy to reach on the phone, nice and supportive. Once I was approved and started getting the funds, everything shifted. The first issues was the amount of funds Id initiated get released. I was told one amount and then got less than half of that which caused an issue with paying for things. Then came the invoices for interest payments. Yes, they require you to pay interest on monies that I was given and Im not open yet. So, the funds that they did give me also went to that which is less to my business. For months, Ive been trying to get someone on the phone to discuss and see my options. Ive pretty much exhausted my person funds and saving (more than what I was required) and they still have their hand out. Prior to getting my loan, I was able to get someone on the phone, now I cant get anyone to call me back. Just emails with sometimes wrong information. For example, they told me that I had to pay this because of SBA requirements. This was wrong. I called the SBA and they told me that the lender can choose to make adjustments to the loan as they see fit (in regards to repayments, pushing back due dates, etc) and that they dont need their permission. Im trying to get open so I can pay them back but they only care about their payments. From their old reviews, it looks like they used to actually care about the business owner, but that has changed. I keep trying to get someone from management on the phone but my calls go unanswered. Dont make my same mistake. Even if a company is referred to you, do your own research.
Oct 23rd, 2023