Primis Bank Consumer Advocacy
We were small business owners. We now educate consumers about small business lending fraud. We are dedicated to helping small business owners avoid doing business with predatory lenders. We are working diligently to share our experience with Primis Bank (formerly named Sonabank) and the loan officers who ignore the law, fail to follow the Small Business Administration Standard Operating Procedures, falsify documents, confiscate trademarks, breach their fiduciary duties, and submit false information to federal agencies for payment.
We are small business owners of all ages and backgrounds with families who understand the value of hard work, improving our communities, and providing services and employment opportunities for community members. We have scrimped, saved, and worked tirelessly, only to be defrauded. We naively thought that banks had to play by the rules—and unfortunately, some don't. We were also referred to Primis Bank by the Small Business Administration, which makes this even more alarming.
Primis Bank is potentially guilty of illegally closing businesses, illegally taking primary residences, illegally confiscating trademarks and patents from small business owners, falsifying documents, withholding documents, providing false information to state and federal agencies, and submitting false information to federal agencies for payment.
So, not only do small business owners, their employees, their families, and community members pay for Primis Bank crimes, but so do taxpayers.
We are working diligently to put predatory lenders- specifically, corrupt loan officers out of business - as they did to us.
Additionally, we will persevere in getting information from the Small Business Administration regarding the number of primary residences taken by Primis Bank (formerly known as Sonabank) and the number of small businesses closed by Primis Bank. All UCC filings are being meticulously analyzed for fraud. All loan officers, appraisers, and bank officers affiliated with this bank and involved in all business closures for the last 15 years are being scrutinized for credentials, authority, lawfulness and signatures.
One of Primis Bank's loan officers recently was sentenced to federal prison for a 15-year, 2.4 million-dollar embezzlement scheme. You can find more information at https://www.justice.gov/usao-edva/pr/former-primis-bank-manager-sentenced-federal-prison-24m-embezzlement-scheme and https://www.wric.com/news/local-news/former-virginia-bank-manager-sentenced-for-15-year-2-4-million-embezzlement-scheme/
In other Primis Bank news, "Primis Financial Corp. Announced Notification of Delinquency with Nasdaq." More information can be found at:
https://prn.to/3C2k0xF or on X.
Another Primis headline reads, "Primis Financial Corp to restate financials over loan accounting errors."
More information can be found at:
https://www.investing.com/news/company-news/primis-financial-corp-to-restate-financials-over-loan-accounting-errors-93CH-3614473.
Another Primis Bank headline reads,
"Primis Financial Corp. filed SEC Form 8-K: Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits." More information can be found at: https://www.marketscreener.com/quote/stock/PRIMIS-FINANCIAL-CORP-36099/news/Primis-Financial-Change-in-Certifying-Accountants-Form-8-K-48102944/
We are committed to keeping you updated on Primis Bank and urge all small business owners to avoid this bank and its affiliates.
Note that the SBA is not a friend or ally to small businesses. The SBA is a marketing agency for unvetted and unmonitored small business lenders who appear to experience no risk, transparency, accountability, or supervision in lending practices and procedures.
No state or federal agencies help small businesses and small business owners who SBA lenders have defrauded.
The best and only resource for small business owners is SCORE. SCORE is genuinely made up of heroes.
For more information on Primis Bank on X, please visit @stopsonabank, @bankprimis, @fraudprimis, @bank_primis.
Contact us to learn how and why:
- the SBA representatives visit a borrower's home before a business closure
-the bank can take a business's trademarks
- loan officers (and not appraisers) can do their appraisals
-the UCC filings don't list the equipment taken by the bank but needed to earn a living
-banks overcollateralize your business loans
-banks communicate with your competitors
AND MORE
Advice for small business owners
1
small business lending fraud Expert knowledge
Not all small business loan documents are created equal. Ignore any SBA affiliations - they mean nothing. The SBA does not vet or enforce its own Standard Operating Procedures. Do not sign any Primis Bank loan documents before having them reviewed by a reputable attorney. Small business lending is alarmingly unregulated and unmonitored. Note that the SBA does not vet their "preferred lenders" and will not do anything to help you if you have been defrauded by one of their "preferred lenders."
2
Protection for consumers and small business owners
Do not allow Primis Bank loan officers into your home. Small business loans are collateralized (very often overcollateralized) with your primary residence – and Primis stands to profit by closing your business as soon as possible and taking your primary residence as soon as possible. Do not let any representative of Primis (or the SBA) in your home under the pretense of “going over documents” – or for any reason.
3
Awareness and education about the role of the sba and it's relationship with it's lenders
We promote awareness about predatory small business lenders' tactics and educate small business owners on protecting themselves. We are here to help, lobby for increased oversight of small business lenders, and advocate for victims of small lender fraud perpetrated by SBA-affiliated lenders. As individuals and as a nation, we cannot afford the despair, homelessness, bankruptcies, and loss of perfectly viable small businesses caused by predatory lenders such as Primis Bank.
a voice for small business owners DEFRAUDED BY PRIMIS BANK
Our goal is to be the trusted resource for small business owners seeking information about small business lending fraud from SBA-affiliated lenders and how to safeguard their financial interests.
Email us at PrimisFraud@gmail.com
small business owner advocacy
Fraud Prevention
We offer tips and strategies to help consumers avoid falling victim to small business lending fraud.
Reporting Fraud
We provide guidance on how consumers - specifically small business owners - can report instances of small business lending fraud to the appropriate authorities.
Fraud Awareness Campaigns and testimony
We organize and participate in campaigns for state and federal agencies to raise awareness about small business lending fraud and its impact on consumers and taxpayers.
Legal Assistance
We connect consumers with legal professionals who specialize in small business lending fraud cases.
Contact Us
Get in touch with us for more information or to share your experience with small business lending fraud.