Request a Quote

Thank you for reaching out to us! Please fill out and submit the form below and we will get back to you as soon as we are able to. Existing clients may Contact Us online or submit a Support Request.

Your Contact Information

What Services are you interested in?

Project Schedule

Additional Information

SBA Programs - Scams and Fraud Alerts
Beware of Scams and Fraud Schemes

The Office of Inspector General recognizes that we are facing unprecedented times and is alerting the public about potential fraud schemes related to economic stimulus programs offered by the U.S. Small Business Administration in response to the Novel Coronavirus Pandemic (COVID-19).  The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the largest financial assistance bill to date, includes provisions to help small businesses. Fraudsters have already begun targeting small business owners during these economically difficult times.  Be on the lookout for grant fraud, loan fraud, and phishing.

Scams and Fraud Schemes

Grants
  • SBA does not initiate contact on either 7a or Disaster loans or grants.  If you are proactively contacted by someone claiming to be from the SBA, suspect fraud.
Loans
  • If you are contacted by someone promising to get approval of an SBA loan, but requires any payment up front or offers a high interest bridge loan in the interim, suspect fraud.
  • SBA limits the fees a broker can charge a borrower to 3% for loans $50,000 or less and 2% for loans $50,000 to $1,000,000 with an additional ¼% on amounts over $1,000,000.  Any attempt to charge more than these fees is inappropriate.
  • If you have a question about getting a SBA disaster loan, call 800-659-2955 or send an email to [email protected].
  • If you have questions about other SBA lending products, call SBA’s Answer Desk at 800-827-5722 or send an email to [email protected].
Phishing
  • If you are in the process of applying for an SBA loan and receive email correspondence asking for PII, ensure that the referenced application number is consistent with the actual application number.
  • Look out for phishing attacks/scams utilizing the SBA logo.  These may be attempts to obtain your personally identifiable information (PII),to obtain personal banking access, or to install ransomware/malware on your computer.
  • Any email communication from SBA will come from accounts ending with sba.gov.
  • The presence of an SBA logo on a webpage does not guaranty the information is accurate or endorsed by SBA.  Please cross-reference any information you receive with information available at www.sba.gov.

Report Fraud

Report any suspected fraud to OIG’s Hotline at 800-767-0385 or online at SBA's Officer of Inspector General Website.

Created: March 31, 2020
Last Modified: April 29, 2020
Attachment(s): 1 (99 KB)
Title
File Size
 
File Size: 99 KB
Ready to take your brand to the next level?

We offer free, no obligation consultations.

 

  Request a Quote

iPlasmaCMS2 Website Content Management System
youRegister.net
Constant Contact in Partnership with Insercorp
Plesk in Partnership with Insercorp
Credit Card Processing Solution for Insercorp Clients
Ring Central Partner
Amazon Local Associate
Monday.com Team Management Software in partnership with Insercorp
Google Icon
Youtube Icon
Linkedin Icon
Pinterest Icon
Request a Quote