Scammers targeting small businesses

Scammers are targeting small businesses with a promise of access to paycheck protection loans, Sen. Susan Collins said.

Collins, a Republican, is the co-author of the Paycheck Protection Program. The program is designed to provide forgivable loans to help small businesses and their workers who have been hurt by the coronavirus pandemic.

Collins said the scammers are promising guidance and advice about getting a Paycheck Protection Program loan and asking for a fee. They’re also promising to get their victims on the top of the list for a loan even though the loans are approved on a first-come, first served basis.

The loans have no application fee. Collins said anyone who thinks they’ve been targeted by such a scam should call a Senate committee fraud hotline at 855-303-9470.

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