Business Loan Scam
Don't be tempted.
Wow, $250,000. Sounds easy! Sounds tempting! Especially if you are running a small business. And what if you're one that was struggling and in need of help? Would you be tempted to listen to the pitch and try to get to a human operator?
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What You Should Know
Loan scams are plentiful and follow the same, predictable formula. The phone rings and it's a robocall. The caller, typically a recording, tries to convince you that you have already qualified for a huge loan without having to produce years of financial data. The victims are prompted to "press 1" for more information and are then connected to a "qualified loan representative." And this is where the scam really progresses.
They are not providing loans, but instead bilking victims in a series of incidental fees. Filing fees, processing fees, loan origination fees, etc. And worse still, during the "loan application" process, victims have handed over all manner of sensitive information, including Social Security and bank account numbers.
How YouMail can help stop business loan scams today
YouMail is the leading solution for getting rid of robocalls and we are proud that our customers are protected from scammers, spammers, and other unwanted callers. Best of all, it's a 100% free service available for everyone!
Here are a couple of REAL voicemails
left with YouMail customers.
Julia, congratulations your business has been pre-approved for a $250,000 small business loan. Press one now to speak to a cash specialist and a credit check is required for the approval and we can get your loan finalized within the next 48 hours. Regardless of what you need the funds for, once again "press 1" now or "press 2" to be placed on our do not call list. Thank you.
Hi. We noticed that your business qualifies for a small business loan up to $250,000. Whether you have good or bad credit. The information is free and there is no obligation. If you've been in business for at least three months and can fill out a simple one page application, we'll get you money in less than two days. To learn more "press 1" now. Again, "press 1" now to speak with us, or to be removed from our calling list, "press 2".
What you should do
ANY caller telling you that you've been approved of a $250,000 loan is a scam. If it sounds too good to be true, it is! Hang up and then block the number. And just in case you do "press 1", do not give out any information or provide any upfront payment. Be sure to report them to the Federal Trade Commission and Better Business Bureau.
Our best advice
Enjoy the security of voicemail! Don't answer calls from numbers you don't recognize and if you hear a message like those described above, just press delete. Find out more about the number. Check out YouMail's online phone directory to see if that number has negative reports or belongs to a known scammer.",