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A loan is a financial tool that helps your company to have liquidity and in this way helps you to meet the financial obligations of your business such as payment to suppliers or the acquisition of raw materials or work equipment.

Since it is something of vital importance for your business, you have to be very careful to choose not only to verify that the offer is something that suits your business but also to rule out those opportunists who seek to scam people.

Therefore, we will tell you the basic elements so that you can detect when it is a fraudulent loan.

Be wary of loans without a bureau or credit history.

Surely you have seen that several pages or advertisements that offer credits without a credit bureau and without an endorsement, this is the first element to be suspicious since all financial companies that offer loans need to have a guarantee to know that they are going to return the money. Therefore, they ask for documents to verify your financial statements or to know your monthly income. 

Think about it; you wouldn't lend money to someone you don't know, so why would a company do the same. Therefore, these types of offers can be treated as a way to obtain your personal data and misuse it.

Money is never requested in advance.

If they ask you for money before they give you credit, it is a red flag. Unfortunately, many companies are dedicated to promoting web pages, social media posts, flyers, etc. to offer personal or SME loans for relatively small amounts or amounts of up to 3 million dollars. All this, they offer it with interest rates much lower than any institution. Be careful; if it is too good to be true, it is probably a reason for mistrust. 

These groups that offer authorize the credit but ask you to deposit an amount as a guarantee or to speed up the process or indicate that they charge a percentage of the money you want to obtain on credit to cover administration expenses, insurance, etc. None of this is true, since when you give the advance, these companies disappear or even change their name so that you cannot contact them. 

Be careful with bank phone calls.

To date, thousands of people receive calls from unknown numbers and when they answer it is a known bank to tell you that you have pre-approved credit. However, if you have not requested such support or do not even have an account at the bank from which they are supposed to be contacting you, they would not have to call you. This case also applies if offers arrive at your email.

These types of calls or messages are provided to request important data from your cards, with the excuse of validating your identity, but they are a fraud to clone your card. First of all, no bank can ask you to give all the numbers on your card, much less to give a security code (the one on the back of your plastic).