There is a new scam in circulation that businesses need to be aware of where criminals attempt to take advantage of small business owners who have applied for loans from the Small Business Administration.
One anecdotal report describes a business owner receiving a phone call several months after applying for a loan. The caller was a friendly woman who acted as if she had spoken with the business owner before, even though the business owner had yet to receive any contact regarding her business loan request. The caller informed the business owner that the loan had been approved and requested she call back to provide information about the loan request.
Phone Scam Targets Those Looking for Small Business Loan
Thankfully, the instance described above did not result in the scammer acquiring the information needed to ‘steal’ the loan from the Small Business Administration. However, it is important to spread the word among small business owners that this scam is being attempted by criminals seeking the information they need to redirect approved small business loans.
Many small business owners may be desperate for financial relief and thus be susceptible to handing over private information regarding their loan request which would allow the scammers to claim it for themselves.
Scammers Capitalizing on Need for Financial Support
Tiffany Bernhardt-Schultz, Southwest Wisconsin Regional Director for the Better Business Bureau, commented: “We know that consumers were filing for loans…
