Defensive Strategies: Safeguarding Your Business Against COVID Loan Fraudsters

Defensive Strategies: Safeguarding Your Business Against COVID Loan Fraudsters

Scammers often target Paycheck Protection Program (PPP) and COVID-Economic Injury Disaster Loan (EIDL) borrowers with phishing attempts via calls or emails, pretending to be from a lender, collections agency, or the SBA. Here’s how you can protect yourself and your business:

**Stay Alert: Spot and Avoid Scams**

When you receive an email, always check the sender’s address first. Official SBA emails will end in @sba.gov. Be wary of emails from any other domain.

Be cautious about emails using the SBA logo. These could be scams aiming to steal your personal information, access your bank accounts, or infect your devices with malware.

**Understand SBA Communication**

The SBA will not ask for personal information through third-party platforms. Official phone calls and emails from the SBA are meant to inform you, not to request personal details. Follow-up actions will direct you to official SBA websites.

Federal help is free. You will never be charged by government employees for accessing federal services.

**Tips to Stay Safe**

Having the SBA logo on an email doesn’t guarantee its authenticity. Always verify the source and check website URLs regularly.

Never publicly share personal information such as your social security number or address, and do not respond to suspicious emails or calls asking for this information.

Avoid clicking on links or opening attachments from unknown sources. If something feels off, don’t respond. Instead, look up contact information on sba.gov or your lender’s website and reach out directly to customer support.

**Guard Your Personal Information**

Treat your personal information as carefully as you would your money. Stay vigilant. If you receive a suspicious email claiming to be from the SBA, report it right away to the Office of Inspector General’s Hotline at 800-767-0385 or online at the SBA Fraud Alert page.

For more tips on avoiding scams, visit the SBA’s Scams and Fraud Alerts page.

**Need Assistance?**

For questions about your PPP loan, use the PPP Direct Forgiveness Portal’s “help” feature or call the service desk at 877-552-2692.

For inquiries about the COVID-EIDL program, contact the COVID-EIDL Customer Service Center at 833-853-5638 (TTY: 711) or send a secure message through the MySBA Loan Portal.

By staying informed and cautious, we can keep our information safe while navigating these important assistance programs.