Learn How to Prevent Business Grant and Loan Scams

Fraudsters impersonate government officials or lenders and claim your business qualifies for free money. They may target your business to get information, or ask you to pay upfront fees for a grant or loan you never applied for. Learn how to detect and protect yourself from business grant and loan scams.

Notice suspicious activity on your account?
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What you need to know

Be wary of speed selling. Fraudsters may try to rush you through the process to get your information and avoid answering questions.
Never pay money upfront to secure a grant or loan. A reputable lender won't charge you for an application.
If you’re contacted randomly for a grant or loan that's been approved but you never applied for, it's most likely a scam.

What are business grant and loan scams?

This is when fraudsters pose as government employees or authorized lenders to target your business into paying upfront fees to receive a grant or loan. You're told that you're guaranteed approval prior to any credit check or financial review, and you're asked to pay upfront fees for credit checks or application processing. Often, fraudsters will contact businesses to tell them they're qualified or have been approved for a government grant or financial loan they never applied for.

Stay safe with our tips

Be wary if you've gotten approved for a grant or loan prior to a credit check and financial review. Most fraudsters will try to lure you in with this tactic.
Do a diligent search. Check if an online lender has a physical address or if their email address is from a reputable organization.
Don't be afraid to hang up the phone. If you feel uncomfortable or uncertain about the person you're speaking to, search for a legitimate phone number and call them.

Don't respond to unsolicited communication claiming to be from trusted business lenders or the government. This includes untraditional advertising, such as personal Facebook messages.
Don't pay money up front to get a grant or loan approved. Legitimate lenders won't ask you to pay for a credit check, application or processing fees.
Review a lender's offer and terms and ask questions. If the offer and terms are too good to be true, it's usually a scam.

Notice anything suspicious? Let us know.

Contact us immediately if you received a suspicious email or notice any unauthorized activity on your account.

Call us: 877-448-6500 Opens your phone app.

Explore more about business grant and loan scams

Internet Crime Complaint Center Opens in a new window.

Report fraud when it happens and track the latest data on fraud happening across the country.

American Bankers Association Opens in a new window.

Get connected with the resources banks use to help you identify, prevent and report fraud.

GRANTS.GOV Opens in a new window.

Learn how to recognize fraudulent activity related to federal grants.

Protect your organization from business grant and loan scams

What you need to know

What are business grant and loan scams?

Stay safe with our tips

Notice anything suspicious? Let us know.

Explore more about business grant and loan scams

Continue to Internet Crime Complaint Center site?

Continue to American Bankers Association site?

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