Unfortunately, scammers have been quick to develop fraud schemes and take advantage of small businesses applying for financial support through the Small Business Administration (SBA) Paycheck Protection Program (PPP).
Common fraud schemes have been focused on collecting fake fees, contact and banking information, from small business owners. It is possible that you may receive email phishing scams attempting to access this information.
Please be aware that we are not contracted with any third-party vendors and will not use a third-party to ask for loan or personal information unless we explicitly send a communication saying so. Additionally, we will never request your username, password, or other electronic banking credentials by phone, email, or text message.
To help avoid PPP Loan fraud schemes, please follow these tips, provided by the Federal Trade Commission (FTC):
- If you get an email that looks like it is from the SBA or your bank, do not click on any links. Instead, go directly to the organization’s website for information.
- The government will not ask you to pay upfront, and it will not call to ask for your Social Security, bank account, or credit card number.
- Be cautious about companies that offer to expedite or facilitate your ability to get PPP loans. Be wary of companies you have never heard of or that call or send you emails out of the blue.