Tag: Small Business Administration

  • Framingham Small Businesses Awarded SBA Loans

    Framingham Small Businesses Awarded SBA Loans

    United States Small Business Administration (SBA)
    The SBA introduces two new loan programs for small business owners in 2011. See below for more info.

    FRAMINGHAM, MA – According to the 2011 Business Loan Detail for Masssachusetts published by the U.S. Small Business Administration, (“SBA”), Framingham business owners have been approved to receive approximately $2.5 Million in SBA backed loans for 2011.

    The SBA does not lend money to small businesses — instead the agency establishes programs and  guidelines and then guarantees repayment of loans made by local commercial lenders to SBA approved small business owners.

    Some of the businesses to make the 2011 list (more…)

  • SBA Warns of Fraudulent Attempts to Obtain Bank Account Information from Small Businesses

    WASHINGTON — The U.S. Small Business Administration issued a scam alert today to small businesses, warning them not to respond to letters falsely claiming to have been sent by the SBA asking for bank account information in order to qualify them for federal tax rebates.

    The fraudulent letters were sent out with what appears to be an SBA letterhead to small businesses across the country, advising recipients that they may be eligible for a tax rebate under the Economic Stimulus Act, and that SBA is assessing their eligibility for such a rebate. The letter asks the small business to provide the name of its bank and account number.

    These letters have not been sent by or authorized by the SBA, and all small businesses are strongly advised not to respond to them.

    The scheme is similar in many ways to e-mail scams often referred to as “phishing” that seek personal data and financial account information that enables another party to access and individual’s bank accounts or to engage in identity theft.

    The SBA is working with the SBA Office of Inspector General to investigate this matter. The Office of Inspector General asks that anyone who receives such a letter report it to the OIG Fraud Line at 1 (800) 767-0385, or e-mail at OIGHotline@sba.gov or go to: www.sba.gov

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