📧 “Reaching out”
20250211 @ 1345
Hi Logan,
Anne, from our Albany location, reached out and let me know that you have been trying to get ahold of me regarding options to restructure the loan, etc.
I am looking into our options and will get back shortly. If you have been calling my work phone, I have been having issues with the connection to my actual phone, so please just use my cell phone for the time being [redacted].
Thanks so much.
20250211 @ 1459
Yes, I scheduled an appointment in October that routed me to the Corvallis location, who then directed me to the BDC (which turned out to be an overseas collection agency), who eventually told me you are my BRM and I have to go through you. I left two voicemails with the number on your bank business card before coming in person to the Albany branch.
Three months later and I have enough left in reserve for one final $1,000 payment.
Let me know when I can expect to discuss this with you. I have school pick up and will be unavailable until tomorrow during normal business hours.
20250218 @ 1708
Hi Logan,
I have explored our options and wanted to provide you with an update.
Unfortunately, there is no way to restructure the term of the loan or the payment amount. Our term loans are based on a 5 year term, always, and if we refinanced, it would be a 5 year term and this wouldn’t help you very much obviously.
What you can do is take advantage of outside refinance opportunities that will allow you a longer term and more flexible monthly payment options. Options that come to mind: HELOC, Home Equity Loan, Personal Loan, etc.
I wish there was a way in which we could restructure this more favorably, but our term loans are strictly based on 5 year terms unfortunately if that makes sense.
Thanks Logan.
20250220 @ 0929
Thank you for getting back to me finally.
In October, when I initiated this via the online scheduler (which put me through to Corvallis), I still had some financial wiggle room. But now I no longer have funds to pay my minimum payment.
What would Chase like to do about that?
Because there was so much confusion and mismanagement both at the origin of this loan and over the last several months, I will also be exploring protections for borrowers via federal, state, and local agencies. This entire process has been humiliatingly mismanaged and I regret having trusted you with my business.
20250303 @ 1142
Hello Logan,
I am extremely sorry to hear about your frustrations and regret. I have submitted a formal complaint on your behalf so that your voice will be heard within the organization.
First and foremost, it is always my goal to help business owners achieve their goals & provide the tools necessary to reach said goals. In this case, you approached us looking for a loan to provide working capital, and therefore I worked with you to gain the approval we were looking for, which we obtained. I am deeply sorry that you now look back at this with distain and regret, I was simply trying to help you fulfill your request.
In terms of your question “What would Chase like to do about that?” – There is some good news of sorts. What will happen if you fall behind on payments, this then triggers our Special Credit department to reach out to you to work out a solution. They work directly with borrowers to create a plan, adjust payment structure, term, etc. This will allow you more flexibility & the ability to find a solution to this situation, as this is what they are there for.
If I had the power to make these changes and work together on this, I would do so immediately; but this department handles any and all of these sort of situations. They will work directly with you to collectively create a long term solution.
Again, I am very sorry to hear about this & it deeply saddens me to learn about dissatisfaction.
20250328 @ 1140
I will adhere to your guidance to "fall behind on payment" so that it can go to a special collection department in order to trigger what I've already been trying to do for several months.
If this affects my business credit profile, I will provide them a copy of this and prior correspondences to preserve my good standing.
The fact that a regulated financial institution does not empower local branches to complete simple financial tasks is unreasonable and absurd.
