Beware of PPP Loan Scam Targeting Small Business Owners

⚠️ Scam Alert: The Nebraska Department of Banking and Finance is warning PPP loan recipients about a new scam that’s circulating across the state.

Scammers never seem to rest—and now they’re turning their attention to Paycheck Protection Program (PPP) loan recipients. The Nebraska Department of Banking and Finance (NDBF) has issued an alert warning about the fraud scheme that’s impacting Nebraskans who received PPP loans during the pandemic.

What’s Happening

According to the Nebraska Bankers Association, fraudsters have been calling PPP recipients while impersonating bank employees, ACH department representatives, or even local law enforcement. Their goal? To trick you into revealing sensitive account information or sending payments.

Scammers are using borrower information that was made public by the Small Business Administration (SBA) to make their calls sound more convincing. Some have even claimed to be from a bank’s fraud department, saying there’s “unusual activity” on your account—or worse, that there’s a warrant for your arrest.

Local Impact

Banks across Nebraska—including a few smaller community banks—have reported that their customers are being targeted. In some cases, the callers specifically ask for ACH account numbers and transaction details, pretending to “verify” information. It is crucial for businesses not to share account numbers or credentials with anyone over the phone. If you are asked for this information, hang up and call your branch directly.

How to Protect Yourself

Fraudsters often sound professional and urgent—but you can stay one step ahead by following these tips:

• Be skeptical of unexpected calls or messages. Don’t trust anyone claiming to be from your bank, especially if they request account numbers or log-in credentials.

• Use official contact information. If something feels off, hang up and call your bank directly using the number on its website or the back of your debit card.

• Verify law enforcement claims. If someone says they’re calling from law enforcement, hang up and call your local police department directly.

• Never share your password, PIN, or one-time passcode. Legitimate financial institutions will never ask for this information.

• Watch for pressure tactics. Scammers often push you to act immediately—take a breath and verify before responding.

• Strengthen your digital security. Use strong, unique passwords and enable multi-factor authentication whenever possible.

If you believe you’ve been targeted or shared information with a scammer:

1. Contact your financial institution immediately.

2. Report it to the NDBF by calling 402-474-2171 or submitting an online complaint at ndbf.nebraska.gov/consumers/complaints.

3. Notify the SBA Office of Inspector General to help stop future fraud attempts.

Heartland Bank Is Here to Help

Heartland Bank takes fraud prevention seriously. Our associates are trained to identify scams and help you protect what matters most—your financial well-being. If you receive a suspicious call, text, or email, please contact your local Heartland Bank branch right away.

Together, we can stay alert, stay informed, and stop scams before they start.