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Many small business owners look to grants for free funding. Because of their popularity, there are lots of grant scams out there. Here’s what to look out for to avoid getting scammed.
It can start with an innocuous email. Something like this:
“Congratulations, small business owner. Based on your tax information, you qualify for a free federal grant for $10,000. Click here to claim your money.”
A few clicks later, after you’ve provided your business’s tax information and bank account, you receive a “confirmation” email. Now it’s just a matter of waiting for the funds to get deposited into your bank account.
You probably know what happens next. There’s no money. It was a scam.
The results aren’t so harmless for you, though. You might have a fraud alert on your bank account or credit card and have to deal with credit bureaus. Or, even worse, you’ve lost money that you’ll likely never get back no matter how many fraud reports you file.
Unfortunately, government grant scams are more common than you may think. The scammers are tech-savvy and smart, making it hard to know you’ve been duped until it’s too late.
However, that doesn’t mean you can’t protect yourself. There are red flags to watch for that can help you avoid getting taken in by grant scams. Here’s what you…
