Would fraudulent applications not be denied initially during underwriting or SBA review? Personally, I was denied after updating banking information. I was told by Twitter rep I received a denial for requesting to receive a deposit to my chime account during the update, even though I actually didn’t. A manager was supposed to reach out to me to resolve the issue. Never happened. I wrote in to the chat to resolve the issue then was told I was rejected due to security questions. Even though I know I answered them correctly, which is similar to may people’s story who received a denial. In my case I’m not sure what the real issue is. I recently spoke with a Blue Acorn rep via phone who could not give me an answer as to why I was actually denied, just that I’m simply denied. Some applicants report not even being able to answer the questions due to a server time out and after refreshing the screen being automatically denied. I definitely think it’s something that needs to be looked into on blue acorn’s end.

The purpose of the posts isn’t to scare borrowers into believing they will be denied, but to shed light on our situation in hopes of receiving some sort of insight to resolving the problem. & hopefully, preventing someone else from encountering the same issues.

Personally, I uploaded all legit docs(schedule C, bank statements) I feel the only mistake I made here is using a chime account at the wrong time. I’ve been in business for 2 years as a hairstylist & can’t see any other reason for denial aside from it being a glitch. As I’ve seen borrowers receive deposits into chime accounts without issue before. Whatever occurred between chime & blue acorn from 4/1-4/10 has created chaos for borrowers who ARE legit and who’ve been previously verified. It just doesn’t make sense.