SBA Credit Report Inquiry
Did you apply for a PPP loan before April 21, 2020, but did NOT apply for an EIDL loan?
PPP loans are part of the SBA 7(a) program that usually does not require a credit check, but on the other hand, Economic Injury Disaster Loans (EIDL) do. It has been discovered the SBA exposed PPP Loan applicant’s personal data sometime before April 21. You can click the link below to read more on an article from Forbes regarding the exposure.
The exposed data has been used recently to apply for EIDL loans fraudulently, so if you see an inquiry on your credit report from the SBA and did NOT apply for an EIDL loan, we recommend contacting the SBA at 800-366-6303, immediately. You should cancel any application for an EIDL loan not authorized by you through the SBA fraud department.