It usually starts the same way. Your phone rings. The caller sounds professional. Calm. Confident. They tell you you’ve been pre-approved for a loan or that an application with your name on it is already in motion. They might reference a lender you recognize or mention a rate that sounds almost too good to pass up.
Related Page: The Top Scams and Fraud Threats to Watch for in 2026 (and How to Protect Yourself)
Here’s the catch: you never applied for a loan.
At our community bank, we’re hearing from more and more neighbors worried about calls like these. Loan-related scam calls are not just annoying—they can be dangerous. Scammers are increasingly targeting people of all ages, from young adults just building credit to retirees safeguarding their savings. Their goal? To create a sense of urgency, gain trust, and trick you into sharing personal or financial information before you have time to think twice.
In this guide, we’ll explain how these scams work, why they’re effective, and most importantly, what you can do to protect yourself and your family.
You might be asking: how did they even get my number or personal details? There are several ways scammers gain access to your information:
When companies experience data breaches, sensitive information like phone numbers, email addresses, and even partial financial records can be exposed. Scammers can then target you with personalized messages.
Names, addresses, and sometimes phone numbers are publicly available. Scammers can combine this with information from your social media profiles to make their calls seem legitimate.
Even if you’ve never applied for a loan, past interactions with suspicious emails, texts, or phone calls can be a source. Scammers reuse information from previous scams or sell it to other criminals.
Being able to spot the warning signs can make all the difference. Here’s what to watch for:
If you didn’t apply for a loan and someone calls offering one, that’s the first red flag. Legitimate lenders won’t reach out unprompted about a loan you never requested.
Scammers often push urgency: “This offer expires today!” or “We need your information now or you’ll lose the loan!” Real lenders give you time to review options.
Never give your Social Security number, account numbers, or passwords over the phone. Authentic lenders already have a secure process for collecting this information.
If the caller asks for payment to process a loan, that’s almost always a scam. Legitimate loans don’t require payment before you receive funds.
When the phone rings and you’re unsure who’s on the other end, follow these steps:
No matter how convincing the caller seems, never provide personal, financial, or account information.
Hang up and contact the lender directly using a verified number from their official website.
You can report scam calls to the Federal Trade Commission (FTC) here. Reporting helps authorities track and stop scammers.
Check your bank and credit card accounts for suspicious activity. Consider setting up alerts for transactions or changes in your credit report.
A credit freeze prevents new accounts from being opened in your name without your approval. This is an effective step if you suspect identity theft.
Preventing loan scam calls isn’t just about ignoring the phone. Here are additional ways to safeguard your financial health:
At our bank, protecting your finances is about more than accounts and transactions—it’s about community. We host workshops, share trusted resources, and encourage open conversations about scams. Awareness is your first line of defense.
If you’ve received unexpected calls about loans, you’re not alone. Talking with your bank, family, and neighbors can help prevent these scams from taking hold. We’re here to answer questions, provide guidance, and make sure our Sarasota and Manatee County community stays safe and informed.
The rise of loan-related scam calls can feel overwhelming, but taking proactive steps makes a huge difference. Don’t rush, don’t share personal details, and always verify with trusted sources. By staying informed and vigilant, we can protect our money—and each other.
At our community bank, we’re committed to more than financial services. We’re committed to keeping our neighbors safe, aware, and empowered. When it comes to scams, knowledge truly is the best protection.