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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 118294
Experience:  Attorney experienced in commercial litigation.
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a Florida bank advertises on their website that they offer

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a Florida bank advertises on their website that they offer SBA 7a loans. I applied for a small businees loan, they pulled my credit (Trans Union 730) and now they say they only do SBA loans that involve real estate. The Small Business Administration, and the banks own web site clearly do not define a 7a loan as having a real estate componenet.
Prior to my credit inquiry being made, I fully explained that my loan request did not involve any real estate purchase.
Is that deceptive advertising?
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

As you may or may not be aware, a 7a loan can be used for more than just real estate purchases. If the bank advertised 7a loans without any clarification, it is not false advertising, it might be unfair and deceptive business practices and for that to be determined you need to file a complaint with the FL Attorney General and the Federal Trade Commission. The fact that they simply advertised 7a loans but said nothing about strictly RE loans is not all by itself false advertising, the Attorney General will look at the entire practice to determine if they deceive people to get them into the bank, but because you did explain the purpose and they did go through a credit check before telling you they did not do that type of loan, they will also investigate whether or not your credit score had something to do with their decision as well.

I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.

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Customer: replied 4 years ago.

so the AG, or FTC or other Govt office is my only avenue to vent my displeasure?

The AG or FTC would be your recourses for now, if they find unfair and deceptive practices, then you could consider suing for damages.
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