Darien woman: SBA misled me about disaster loans
With the recent flooding in southwestern Connecticut, one woman is trying to stay afloat after she claims the federal Small Business Administration misled her about its disaster loans.
Nikki Eisner has lived in her Darien home for six years. She says in the last seven months, her home was flooded three times. In the last rainstorm, Eisner says her basement was flooded to the ceiling and there was more than a foot of water on the first floor.
Eisner says she has flood insurance, but she applied for an SBA loan to help fix up her home. She says she was told by two separate SBA officials that she could expect a 3 percent interest rate on her loan. However, when she was approved, Eisner says another SBA official told her there would be a higher interest rate. Eisner says she is now struggling to pay off the loan at the higher rate.
SBA officials told News 12 Connecticut that only those with no other lines of credit qualify for the lower interest rate. They say those with several lines of credit qualify for higher interest rates.
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