Liberty Bank (poor review)
Tuesday, March 25, 2008; Posted: 6:25 P.M. CST
 out of possible 4625 S National [Map] [Directions] [Web]
P. O. Box 14350
Springfield MO 65814
(417) 888-3000
Fax (417) 883-9659 Liberty Bank Review
Liberty Bank receives a poor review for failing to approve a Small Business Administration Guaranteed Patriot Express Loan application submitted by a local Springfield, Missouri Area disabled veteran and his wife. The Patriot Express Loan Program provides 75% to 85% guarantee to lending institutions that lend to Honorably Discharged Veterans and their spouses. This particular Veteran Family owned business has been in business in Missouri for more than 3 years which makes Liberty Bank's lack of support more surprising. Liberty Bank's stated reasons for disapproving the Veteran's loan request are ridiculous because this particular loan application was submitted by a Veteran owned business that has operated for more than 3 years and because this particular loan would have been 75% guaranteed by the Small Business Administration. Liberty Bank's stated reason for not approving the loan application was that the disabled Veteran and spouse did not have a sufficiently high credit rating or collateral for Liberty Bank's lending policies. Again, the Patriot Express Loan Program provides lending institutions with a 75% loan guarantee. We at Missouri Bank Reviews find that Liberty Bank does not fully support Missouri Veterans and their families that own or want to start a small business and recommend the following: - All depositors should close all accounts with Liberty Bank and deposit their funds elsewhere until Liberty Bank begins to fully support Missouri Veterans that own or want to start a small business using the Patriot Express Loan Program.
That the Small Business Administration removes Liberty Bank from the Small Business Administration's list of approved Patriot Express Loan Program lenders to keep Veterans from wasting their time with Liberty Bank.
Do you have a family member that has served or is currently serving in the Military? Then Liberty Bank is probably not for you. | 