US Small Business Administration Credit Inquiry

[jazz4cash]

I recently noticed an inquiry from the SBA on my Experian report. This occurred last July (so much for monitoring my credit report). I did a google search and apparently this is a common attempt to fraudulently apply for some type of COVID relief funds. Since I don't have any such loans on my file, I assume that the application was rejected but I need to call the SBA to verify.

 

[Onward]

Sounds like somebody tried to get an SBA EIDL loan in your name?

So the bad guys have your SSN?

 

[ExFlyBoy5]

I did some legal w*rk with the SBA last fall and can tell you that this was VERY common (as in almost 20% of initial applications were fraudulent). You can try and contact them but you will probably be on hold for a VERY LONG TIME...the SBA has never been busier and hired THOUSANDS of temp folks and we still couldn't keep up and this was before PPP Part 2 that is just now ramping up.

The good news is that almost any glitch in the application process would result in a "red flag hold" which means nothing would happen without multiple layers of review. Plus, the steps required to actual fund the loan would preclude almost ALL scammers. So...I wouldn't worry about it outside of the inquiry on your report.