Small Business Owners Targeted by Coronavirus Loan Scams

Small Business Owners Targeted by Coronavirus Loan Scams

We understand that this is a very confusing time when anxiety levels are extremely high. New programs are being launched and the details might not be completely understood at first. As of today, federal disaster loan assistance is now available for businesses, private nonprofits, homeowners, and renters negatively affected by the coronavirus pandemic.

 

If you are a small business owner, keep in mind that you may receive unsolicited calls, letters or emails. The U.S. Small Business Administration (SBA) is urging small business owners to keep an eye out for coronavirus-related loan scams as many of their members have received multiple loan scam emails and phone calls in the past few days. What do you do if you aren’t sure if an offer is legitimate or a scam? Understand that:

– No one should be charging an application fee to apply for the coronavirus disaster relief loan.

– You should not release any personal identifying information (PII), such as Social Security numbers, your date of birth, credit card information, or financial institution account data, in response to an unsolicited call, letter or email.

– The Better Business Bureau is available for more information on a company before you commit to anything.

– If ever in doubt, contact your state’s Attorney General’s office. You can search for that contact information HERE.

 

Be smart. Be vigilant. Be strong. Please don’t hesitate to reach out if you need help. We are available 24/7/365 for you and your family members at 888.966.GUARD (4827) and [email protected].

 

 

Visit https://disasterloan.sba.gov/ela/ for more information on federal disaster loans.

About the Author
Catherine Lennon
I am a Writer, Editor and Marketer with a BBA from University of Cincinnati's Carl H. Lindner College of Business Administration. I have spent the majority of my 25+ year career freelancing in a variety of B2B, B2C, start-up and non-profit industries: accounting and financial services; commercial lighting and design; cybersecurity; film and production; law; market research; human resources and organizational behavior; as well as manufacturing and technology. I write content for a variety of clients and enjoy helping businesses brand consistently. I also love to help authors perfect their manuscripts so they are ready to be published.

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