Business ProfileforSouthbridge Credit Union

Discussions started with Thomasina C in Mar 23' for a $1M construction loan where she outlined the general parameters of how SCU handles such loan stating any monies brought by myself could be used as I wished on the build prior to the loan kicking in. The loan value ($715k) would then be bound by four payment milestones. She supplied the milestone & with the above understanding, I felt comfortable moving forward with the application. July 23' SCU (Tiesha A) supplied the closing statement that showed a required value to close of ~$270k. I was flabbergasted. Tiesha stated this was provided during the initial application process, I checked, it was, although admitted I thought it was an error due to the size so had dismissed it. SCU then explained the initial overview of the loan was improperly communicated by Thomasina. They in fact require all capital needed for the build to be under their control. I was not comfortable with this as now the milestones were a major issue. Multiple conversations occurred between this time & closing where SCU repeatedly commented that this would not be an issue. They would work with me to ensure a successful build & that I should go ahead & close. We closed end of July 23'.I then contacted Tiesha on Aug 23rd to discuss options to gain access to funds outside of the milestones. Met in person the following day, explained my concerns and provided options how to move forward. Tiesha said she could not commit & would need to review with her VP*. There was no communication from SCU, a follow up email was sent Sep 12th, asking for an update & provided receipts of over $220k already spent with no payments from the bank. She responded on the 13th that she would need to discuss with SCU's ** and later that day sent an email stating the VP of Loan ************************ could offer no help and the payment milestones were cited as being the only avenue for release of payment. This is NOT "working with me" for a solution.