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Is "SBA EIDL LOAN DES:PAYMENT ID:0000 INDN:JOHN DOE C" fraud?

Written by Piper Hall

June 18th, 2024

About "SBA EIDL LOAN DES:PAYMENT ID:0000 INDN:JOHN DOE C"

SBA EIDL Loan is not a merchant but rather a financial assistance program provided by the U.S. Small Business Administration. The Economic Injury Disaster Loan (EIDL) program has been in operation for several decades, primarily designed to help businesses and nonprofit organizations recover from declared disasters. It offers long-term, low-interest loans aimed at covering working capital and operating expenses that businesses otherwise would have been able to pay had the disaster not occurred. The program does not sell retail products but provides financial support through loans to eligible entities.
  • SBA EIDL LOAN: Payment originating from an SBA Economic Injury Disaster Loan.
  • DES:PAYMENT: Description of the transaction as a payment.
  • ID:0000: Unique transaction identifier or reference number.
  • INDN:JOHN DOE: Name of the individual or entity receiving the payment (beneficiary).
  • CO ID:XXXXX00118: Company Identification Number, identifying the company making the payment.
  • CCD PMT INFO:XXXXX48103: Information related to the payment, possibly a secondary identifier or additional reference number.
  • Find & fight fraud from anywhere

    Verify With Receipt

    The best way to tell if this charge is fraudulent is to find the receipt. You may have an electronic copy of the receipt, which you can finding by searching in your email accounts for Sba Eidl Loan.
    Or, if you want to automatically find and reconcile receipts so you never worry about fraud, you can use SimplyWise to automatically match all bank and credit card transactions to email and paper receipts. The app instantly reconciles your expenses and flags anything that doesn’t match.
    Step 1

    Connect your email

    Download the SimplyWise app and connect your email account. SimplyWise will search through your emails and find all the receipts in your inbox. This allows you to understand what exactly you are paying for when you see a bank transaction on your statement.
    Step 2

    Connect Your Bank

    Connect to your bank account/credit card transactions through the secure (256 bit encryption) Reconciliation feature within the app.
    Step 3

    Reconcile

    Reconcile the charges reported by your financial institution against what you’ve recorded in your SimplyWise account. Find fraud quickly! SimplyWise will match your transactions to your bank/credit card spending and check those items off.
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