Business Owners Beware: PPP
Loan Scams are in Spring Bloom
Scammers
are out in full force this spring after your paycheck protection
program dollars offered by the you as a small business Association.
If you remember my show from two weeks ago we discussed how to go
about applying for the Paycheck Protection Program and the Economic
Injury Disaster Loan and the strategy to use to maximize the
highest award from both programs. As if it's not bad enough that
were suffering economically from this crazy pandemic now the FTC
has announced it has filed a cased against a company that is
claiming to offer the Paycheck Protection Program loans but in
reality they're not affiliated with SBA and they've been deceiving
thousands of business owners.
Scammers
have been getting distraught business owners and individuals to
turn over sensitive corporate information like business tax ID
numbers, individual social security numbers, financials, bank
account information, things that the SBA does not require with the
initial online application.
According
to the FTC, Ponte Investments LLC marketing their loan program
calling it the, "SBA loan program" and they were capturing business
owners data from a website of the same name saying, "it's easier
than ever to get approved." Not only did these business owners not
apply for the actual loan but now they may be left empty-handed
because the first round of disbursements is fully committed.
Business owners are hoping for a second round of
disbursements but at this point, no one knows for sure if more
money will be dispersed.
If you are a business owner,
the only way to apply for these payroll protection loans is through
your actual bank you do business with or find the details at
SBA.gov/coronavirus .
Some
helpful tips to dodge the scam risk regarding this payroll
protection program:
*if you
receive an email that soliciting you to apply for this loan do not
click on any links they could be malicious order take you to one of
the scam websites
*always
remember the government will not ask you to pay upfront for fees
and it will not ask you for your personal Social Security number
bank account or credit card information
*always be
cautious of companies that offer to expedite or facilitate your
ability to get these loans because you have to get in line at a
regular bank like everybody else
*if you're
considering going online to apply, confirm with your current bank
the appropriate website link, because many banks have restricted
their applications to existing customers only
*only go
to websites that you actually bank on and you know and trust them
to be safe
If you
avoid questionable links, you'll avoid those same, and other online
scams.
for more
great resources, tools and information to help you overcome your
personal and professional challenges to get out of debt, achieve
financial freedom, and live the life of your dreams right now,
today, please visit my website
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