Monthly Archives: August 2017
At Grandpoint Bank, we’re proud to have many interesting people on our team, and interesting people like to get involved with interesting organizations. David Ross’ chairmanship of Pacific Coast Regional Small Business Development Center (PCR) is a great example.
David is executive vice president and chief credit officer of the Bank. In that role, he’s provided services to many Southern California businesses, which was part of the appeal for him with PCR.
“It’s important that people get the assistance they need to know how to run a business and everything that goes with it,” said David. Remarkably, the lion’s share of that assistance is available for free from PCR.
Knowing PCR’s good work was “worthy of support,” David first joined the board in 2012. During his tenure, the board and staff have reflected the same diversity of the predominantly minority business owners served by the organization, including women.
“Our board is a mixture of many backgrounds, which provides important perspectives,” said David.
Business owners, whether new to the game or serial entrepreneurs, can access training and consulting sessions focused on QuickBooks, social media, web design, business plan development, record keeping, legal matters and more.
PCR can also assist with business loans. If a business doesn’t qualify outright for a loan with its bank, that bank can obtain a government guarantee on that loan from PCR. PCR can also direct business owners to banks where they have working relationships, like Grandpoint Bank, if the owner is seeking a loan, with or without the government guaranteed loan assistance. PCR only loans directly through the Small Business Administration (SBA) loan program. More information about the loan assistance services provided by PCR can be found on its website.
Many small business assistance centers handle California guaranteed loan programs, but PCR is one of the few that has expanded its offerings to serve local business owners and aspiring entrepreneurs in the multiple ways they need support the most. For 40 years, PCR has been a tremendous resource for people throughout Southern California, and even statewide.
One remarkable business assistance program that PCR pioneered is the Business Interruption Fund. As most Los Angelenos know, LA Metro has been building an extensive light rail system. During the red line construction, many businesses were adversely impacted and lost significant revenue.
Subsequently, Metro put several million dollars into its budget to fund grants and selected PCR to manage the grant process. Small businesses demonstrating disruption impact are eligible for a grant to cover lost funds.
The Business Interruption Fund has become a model for the state and nation. The program’s manager was hosted by LA Metro at the national transportation conference in Detroit, and PCR was contacted by Israel, whose leaders are looking to start a similar program. PCR also sends people out through disruption areas to let business owners know about the fund and the educational programs offered through PCR.
We salute PCR’s and David’s work to reinvest in our communities and in people who are bringing their entrepreneurial dreams to life.
On July 18, 2017, the Federal Bureau of Investigations (FBI) Portland released the following news, warning people against tech support fraud. In our continuing efforts to educate our clients about cyber security best practices, we wanted to share the FBI’s warning and advice, in its entirety, here on our blog site. Information about fraud and security best practices can be found on the Grandpoint website at grandpointbank.com.
In 2016, the FBI’s Internet Crime Complaint Center received almost 11,000 reports of tech support fraud incidents. In those cases, victims reported losses of more than $7.8 million.
So what is tech support fraud? Imagine you receive a call from someone who says he is with a computer software or security company. Maybe he says he is with a cable or Internet provider. The caller tells you that your software is out of date, and you are vulnerable to a cyber attack. Or, he says your equipment is malfunctioning, and he can fix it remotely — saving you a service call. All you have to do is to provide the caller with remote access to your computer or device. No idea what he’s talking about? No worries — he will be happy to walk you through all the technical details.
In another variation of the fraud, the bad guy convinces you that you overpaid for a recent service. He would be happy to refund the overage if you would just give him a few details — such as your bank account number — so he can arrange the refund.
In reality, he is either just trying to get into your account to clean it out — or, he is working for long-term access to launch other frauds. In this second example, he transfers money back and forth between your own checking, savings and retirement accounts to make it appear as though there is a refund when in fact there is none. Eventually, he tells you that he refunded too much and asks you to wire money back to the fraudulent company. Victims often don’t figure this out for quite a while as the losses pile up.
So how do you protect yourself?
- Never give a stranger remote access to your computer or other electronics.
- If something seems a bit odd, it probably is. Hang up and look up a phone number for that company or provider using a publicly-available resource.
- Don’t give an unsolicited caller your bank account number or other personal information that he could use to access your accounts.
- Don’t let someone pressure you into buying a computer security product or subscription. Oftentimes, there are reputable, free products that will do that work for you. Seek out help from someone you trust to ensure that if you do pay for something — it is worth the cost.
If you have been victimized by this scam or any other online scam, report your suspicious contacts to the FBI. You can file an online report at the FBI’s Internet Crime Complaint Center at www.ic3.gov or call your FBI local office.
This article can be found on the FBI’s Portland field office website.
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