The first thing you need to do is a hire a lawyer in your area that is familiar with business litigation and our defense of economic crimes. Depending on the facts and circumstances of your case, if you made any false statements to a federally insured financial institution in connection with any loan, line of credit or account, you could be prosecuted federally pursuant to Title 18, United States Code, Section 1014 - False Statements to a Federlly Insured Financial Institution. Less likely would be a prosection under Title 18, United States Code, Section 1344 - Bank Fraud.
Based on th einformation that you included in your question, it sounds like the financial institution may be at fault, in which case you will need legal advice in order to protect your credit from any potentially negative information. As you point out, unless you actually signed for a loan - and more importantly, received the funds, you should be able to resolve this matter rather quickly. However, like any problem, this will likely not go away on its own and therefore needs to be addressed sooner rather than later.
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I agree that you need to consult an attorney confidentially and as soon as possible, If you do not have sufficient funds, I would recommend that you contact the Federal Public Defender in Houston.