The warning comes at a time that the SBA lending program is picking up. October through February, the program in the Santa Ana district (includes Orange, Riverside and San Bernardino counties) has made 613 loans, a 65.2% increase from the same period a year earlier for a total of $295.3 million, up 99.7%. Fifteen more lenders are participating this year.
The Scam artists are circling and it's important that you read this article from Jan Norman and please inform your fellow business owners of these specific Scams.
I just read another article about how some people are getting letters in the mail with SBA letterhead requesting BANK INFORMATION! Never a good idea. A sure sign of a scam.
This article talks about..
1. High Fees paid to a company that guarantees a LOAN. (Not possible.)
2. Firms that again ask for routing or Bank accounts.
3. This is the most creative... Firms that tell business owners that they will be issued a "Forfeiture Letter" making their business ineligible for any SBA funding for THREE YEARS.
(Oddly the same tactic was used on me when I was looking at joining a health club.)
Please let us know if you've encountered any of these and of course report to the proper authorities.