Consumer complaint received 2020-06-26
Company: AMERICAN EXPRESS COMPANY
State: NC
Product: Debt collection
Sub-product: Other debt
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
I applied for the paycheck protection program like all other businesses in the United States, through XXXX XXXX. The process was pretty slow with XXXX and they asked that I could apply for the program through other lenders. Because of this, I applied through American Express. The process with American Express was pretty fast, and they approved me for {$23000.00}. They also told me I had only 5 days grace period to collect the funds or it will be canceled. I thought it was an underpayment but since I had only 5 days, I took the money and it was transferred to my account XX/XX/2020. About 5 weeks later, I got an email from XXXX informing me that the maximum amount I am eligible for was XXXX. I found this troubling and did not understand the wide discrepancy between the XXXX and the American Express offer. I then called American Express and talked to their staffers where I told them that I had a better offer from XXXX and that would it be possible for them to withdraw my application from the Small Bussiness Administration if I returned the money to enable my re-apply through XXXX since they had a better offer. I talked to about 3 or 4 staffers over the phone and they all said they did not see any problem with it and that it will take a few days for American Express to completely withdraw my application. One of the people I spoke with over the phone presented me with account information for me to pay the money into. Nobody from American Express told me it was impossible for them to withdraw my application through them to the SBA. They helped me with everything and assured me it was not a problem. 
I borrowed the XXXX dollars and paid the money into the account presented to me over the phone by an American Express staffer, The next day I called them to see if they had withdrawn my application, and they told me for the first time that it was impossible for them to withdraw the application, and then I asked them to return my money and the said NO. That as far as they are concerned I had repaid the loan. I was shocked because all I was doing was trying to get a good deal for my company and my staff. 
In an earlier email to me, American Express had mentioned that repayments for the Paycheck protection program loan are not required until XX/XX/2020. As of today, they have refused to return my money which they have falsely characterized as repayment for the Paycheck protection program. They never sent me any repayment invoices, and they have not applied the government rules for repayment. I have reached out responsibly to American Express and informed them of the damage this is doing to my company. They did not even give me a receipt for the XXXX dollars I transferred into their account. I only tried to explore the possibility of them withdrawing the application to the SBA, and if it was not possible, all they had to do was simply return my money. I never mentioned to them that it was a repayment. The repayment fo this government loan starts from XXXX XXXX I am appealing to the Bureau of Consumer protection to reach out to American Express and make them return my funds. They have already caused huge damage to my company, and their actions completely circumvent the purpose of the Federal government to provide palliatives to small businesses to help bolster their COVID 19 response. 
To be clear, I am fine with the decision that the application to the SBA can not be withdrawn, but if they are unable to withdraw the application, they should simply return my funds and let me go through the process like other Americans in this very difficult period.

Company response to consumer: Closed with explanation