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Payment Protection Program Fraud

The payment protection program offered billions in federal crisis aid to help small businesses affected by the pandemic but scammers are taking advantage of those loans.

Posted: Feb 19, 2021 11:02 PM

Fraud investigations are on the rise across the country, PPP loans in particular as fradulent businesses are receiving large amounts of money.

Since the beginning of the pandemic loan scams have become a major issue. Chris Babin of the better business bureau says businesses are receiving phone calls saying they are eligible for grants or loans.

The Paycheck Protection Program provided $659 billion dollars in aid for small businesses that were hurt by the covid-19 pandemic.

However, some people are facing charges after creating fake businesses to get the loans.

Babin says the easiest way to avoid fradualent activity is to check your credit report on an annual basis.

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