Consumer complaint received 2020-08-03
Company: U.S. BANCORP
State: OH
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Getting a line of credit

Complaint:
I've chosen what I think are the most accurate choices to categorize this complaint but to be dead accurate, this complaint is related to US Bank incorrect handling of my Payroll Protection Program application, their lack of information, details, protocols and processes when handling the application and their now refusal to handle the resolution of the matter. As a matter of fact, they were so inept at handling these applications, they didn't even realize they had 2 applications open under my name and didn't even seem concerned when I informed them of it. 

My original PPP application was submitted on the first day it was eligible to do so through US Banks ' PPP Portal. As the process moved forward through the entire month of XXXX, I was originally offered a loan amount that was nowhere near what I qualified for ; I was told by the US Bank associate that my accountant sets the loan amount which is incorrect and then was further told to accept what they were currently offering and to then submit a second application during the second round which also turned out to be incorrect guidance. To further confuse the matter, there were several people working on the applications and I received several emails requesting information that I had already submitted ; it was evident they had no clear dedicated team or process to handle these applications with any efficiency or accurate knowledge of the program. That original PPP application was funded on XX/XX/XXXX for {$5400.00} Based on US Bank 's direction, I filed a second application and went through the entire process throughout the months of XXXX & XXXX. I encountered the same issues as I listed above but eventually was able to work w/ one individual who I would say was going above and beyond what was expected of her. I completed the process with her and was informed that the now accurate number of a PPP Loan in the amount of {$95000.00} would be closed and funded ; at no time was I informed that there was a possibility of the application being denied. 

I received notification the XXXX week of XXXX that my second application had been thrown b/c I had already received a loan. I contacted the SBA and inquired with them and they did confirm that guideline but also notified me that US Bank is responsible to amend my original application to correct the appropriate amount and that they should fund my PPP Loan in the correct amount. I immediately took this information to US Bank ; after a week or so and on XX/XX/XXXX I was told to submit an email to their PPP email address which I assumed goes to the people directly responsible for handling these loan applications and assumed this was the necessary step for them to begin amending my original application. That was not to be the case, I immediately received email stating that they were for all intents and purposes done handling the applications and I should now deal with their Business Service Center or contact SBA. I did both ; their Business Service Center just sends you from one web page to another ultimately ending up w/ the SBA . After  contacting my local branch to see if they could get me any answers, which they couldn't, I contacted my local SBA office on XX/XX/XXXX. I was informed by them that IT IS 100 % US Banks responsibility to contact the SBA and initiate the amendment process, they are just simply refusing to do so. The SBA associate told me they are receiving a lot of those complaints b/c it is a process they have to perform and they simply do not want to dedicate any personnel to this process but that I need to continue to contact them until someone decides to handle this issue the proper way, I have yet to be successful.

I have spoken w/ other financial institutions relaying my situation and they have all confirmed what the SBA had informed me ... ..US Bank is 100 % responsible to amend my first application and bring resolution to this matter. 

During this entire process, I received email communications from US Bank through a secured server and have been unable to retain them to include in this complaint. I have taken screen shots of any and all emails I was able to obtain to establish the in depth amount of communication that took place and the entire time, my applications were handled incorrectly and US Bank was negligent in the way they ran their PPP Loan Applications. These attached screen shots will also support my stated timelines. 

In closing, I want US Bank to be forced to do what is right and amend my original application and fund my PPP Loan for the appropriate amount. This program was to help small business effected by the Covid Virus. I am in the XXXX XXXX XXXX and the day they suspended all XXXX XXXX, I lost my ability to make a living and now I am being denied by US Bank what the government out in their hands to help small business. I look forward to a prompt reply too this complaint. 

Respectfully, XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX. 
XXXX XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation