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The Office of Inspector General (OIG) recognizes that these are unprecedented times and is alerting the public about potential fraud schemes related to economic stimulus programs offered by the U.S. Small Business Administration in response to the Novel Coronavirus Pandemic (COVID-19). The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the largest financial assistance bill to date, includes provisions to help small businesses. Fraudsters have already begun targeting small business owners during these economically difficult times. Be on the lookout for grant fraud, loan fraud and phishing.
SBA does not initiate contact on either 7a or Disaster loans or grants. If you are proactively contacted by someone claiming to be from the SBA, suspect fraud.
Report any suspected fraud to OIG’s Hotline at 800-767-0385 or online.Visit the SBA website for additional resources about protecting your business, employees and customers.View the original information online.Media Contact:Office of Inspector General800-767-0385