Officials warn of potential SBA loan scammers | News, Sports, Jobs - Parkersburg News

Officials warn of potential SBA loan scammers | News, Sports, Jobs - Parkersburg News


Officials warn of potential SBA loan scammers | News, Sports, Jobs - Parkersburg News

Posted: 01 May 2020 09:10 PM PDT

CHARLESTON — Federal authorities in West Virginia Friday warned small business owners about scams related to federal aid programs because of the pandemic.

The United States Attorney's for the Northern and Southern Districts of West Virginia, the Federal Bureau of Investigation and the Small Business Administration issued the warning of possible scams related to the Coronavirus Aid, Relief and Economic Security Act.

The act included an initial $349 billion in aid for businesses through the Small Business Administration's Economic Injury Disaster Loan program and the Paycheck Protection Program.

"Unfortunately, small businesses are being targeted at a time they are most vulnerable," said SBA West Virginia District Director Karen Friel. "Look out for phishing attacks and scams utilizing the SBA logo. These may be attempts to obtain your personally identifiable information (PII), to acquire personal banking access, or to install ransomware or malware on your computer."

The Small Business Administration does not initiate contact. Also suspect fraud if someone promises to get approval for a loan, but requires an up front payment or offers a high-interest bridge loan in the interim.

The SBA Office of Inspector General has published a list of possible scams and fraud schemes to raise public awareness: https://www.sba.gov/document/report–sba-programs-scams-fraud-alerts.

To report any suspicious activity regarding the COVID-19 virus, residents are asked to call the National Center for Disaster Fraud Hotline at 1-866-720-5721or go to Justice.gov/DisasterComplaintForm.

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