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Free Money For Small Business: Two Loans You May Not Have To Repay–That You Should Apply For Now
CARES (Coronavirus Aid, Relief and Economic Security) Act, your business may be eligible for two separate loans. One of these loans is 100% forgivable if used for its intended purpose, and the other loan includes a component that’s intended to be forgivable in full.
Missingmoney.com. The national database is endorsed by the National Association of Unclaimed Property Administrators (NAUPA), as well as 39 U.S. states. You just need to enter a last name and state to start your nationwide search.
The EIDL (the second of the two loans covered in this article) is proving to be less than Congress intended, according to the latest guidance from the SBA. The loans to be granted are much smaller than was initially promised, and the forgivable part has now been reduced to $1,000.
The Paycheck Protection Program (PPP) provides businesses with a loan–up to 100% forgivable, if used in particular ways–to cover short term payroll obligations and other approved expenses.
Find Missing Money
Did you know there is over $42 billion in unclaimed funds in the United States, according to the National Association of Unclaimed Property Administrators (NAUPA)?
Search databases at sites like Unclaimed.org and MissingMoney.com to see if you are owed any unclaimed money.
Search IRS.gov for any possible refund money from the Internal Revenue Service because undeliverable mail is often an issue for the IRS.
In a search for any unclaimed pension money, the Pension Benefit Guaranty Corp. has a searchable database to find an unclaimed pension.
Treasuryhunt.gov will help you search for any unclaimed savings bonds and payments.
For any potentially unclaimed life insurance claims or payments, check your individual insurer's website.
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