Small businesses frequent targets of pandemic loan scams – HEDGE accordingly

Kara Kapczynski could tell something wasn’t right.The Vinings School of Art — which she started in 2006 to offer painting, drawing and music classes — had received a federal pandemic relief loan in May.So, when an Atlanta-based employee with the Small Business Administration called Kapczynski on Nov. 17 to verify information for another loan, alarm bells went off, she said.“At first, I thought he was trying to scam me,” she said.As it happens, a fraudster had submitted an application for a $71,000 COVID-19 relief loan in the name of the Vinings School of Art.Fraud — whether it’s someone posing…

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HEDGE accordingly