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SBA Scams & Stimulus Scams

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Please be aware there are scams going on out there in which people are receiving calls regarding the SBA and Stimulus grants, loans, etc. These people are pretending to be the SBA or a bank and ask you to give them your social security number, credit card info or bank info. Do not provide this personal information.

Scams and Fraud Schemes

If you have a question about someone contacting you, keep some things in mind.

  1. Don’t release any private information (especially Social Security numbers, credit card information, or banking information) in response to an unsolicited call, letter, or email.
  2. Contact the Better Business Bureau (BBB) for more information on a company before you commit to anything.
  3. Contact your state’s Attorney General’s office.
  4. Do a reverse search of the phone number on the internet–you’ll often find that several people have listed the number as belonging to scammers. Ask for the number if you don’t have a caller ID.

Here Are Some Tips That Should Help

  1. Legitimate government entities will have websites and emails that end with .gov such as http://www.sba.gov  
  2. Search “scam” or “scams” on http://www.sba.gov You’ll find many of the scams that we already know exist.
  3. Report scams. Report to the BBB and to the Attorney General. If someone purports to be affiliated with the SBA, contact your SBA office. 
  4. Contact your SBA office if you’re not sure how to apply for small business certification programs or have other questions pertaining to your small business. We’ll do our best to help and we won’t charge you anything!

Loans

  1. If you are contacted by someone promising to get the approval of an SBA loan, but require any payment upfront or offers a high-interest bridge loan in the interim, suspect fraud.
  2. 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.
  3. If you have a question about getting an SBA disaster loan, call 800-659-2955 or send an email to disastercustomerservice@sba.gov 
  4. If you have questions about other SBA lending products, call SBA’s Answer Desk at 800-827-5722 or send an email to answerdesk@sba.gov

Phishing

  1. 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.
  2. 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.
  3. Any email communication from SBA will come from accounts ending with sba.gov.
  4. The presence of an SBA logo on a webpage does not guarantee the information is accurate or endorsed by SBA.  Please cross-reference any information you receive with information available at www.sba.gov

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