In order to help those small businesses struggling due to the pandemic, Rhode Island Treasurer’s office is outreaching to businesses who have unclaimed money. According to a report, two local businesses in Cranston, Rhode Island were just reunited with money owed to them that the state has been holding. The two businesses, just south of Providence, happen to be restaurants which are among businesses hit hardest by the pandemic. T’s Restaurant on Park Avenue received $3,655 and The Big Cheese & Pub on Reservoir got back $587 in unclaimed money.
Rhode Island’s New Unclaimed Money Initiative Paying Dividends
These efforts are all part of the states new initiative in getting this missing money back to its rightful owners by seeking them out in addition to those who search for it via their website. These businesses represent two of over one thousand who have already been handed money in some cases they didn’t know they had. This effort is expected to return over $1 million in unclaimed property to its rightful owners. In total, the state of Rhode Island is currently holding more than $300 million in missing money.
Another part of this initiative is direct mail payments that the state is sending. If they can determine that they have accurate information on a current claim, they will attempt to mail the check directly to the individual or business in order to get their money back to them sooner. The state does still encourage people to check the website still. If they are not certain who the claim is to be sent to, they won’t mail a check directly, meaning the rightful owners must go through the regular claim process. If you live or ever have lived in Rhode Island we encourage you to search your name! Click here to Search Your State