Just Vent | Just Venting

I have learned how government handles loans versus the private sector after experiencing basement flooding. My area was declared as a federal disaster area and I worked with the good people from FEMA to submit a federal claim. I have a good job, so I didn't expect much from them and was happy to get a small amount. They provided me with contacts from the SBA for loans to rebuild and I was hoping to get a low interest federal loan. When I spoke with the SBA about the terms, I was told that the amount, rate and term would be determined based on the financial information on the application. Well, I thought, 'I have good credit, low debt and a good salary, so I should get the best terms.' To my surprise, the loan officer explained,'you have no debt and a good salary, so you'll get a low amount of money for a shorter term at a higher rate.' Completely opposite from the private sector!!! Turns out being a good risk is a bad thing when you are dealing with the government. And now Washington has more control over the banks. Well I'm going back to the private sector for my loan which will be half the rate. This is very scary...