California residents will receive stimulus payments of up to $500 within three days.
Long Beach, California Residents to Receive Payments from Guaranteed Income Pilot Program
Exciting news for residents of Long Beach, California! If you were accepted into the city’s guaranteed income pilot program, get ready to see your funds in just three days.
The Long Beach Pledge, launched last year as part of the Long Beach Recovery Act, aims to provide much-needed financial support to 250 qualifying families with children. These families will receive $500 a month for a whole year. The program specifically targets residents in the west-central 90813 ZIP code who have been struggling with their finances.
The Fund for Guaranteed Income, a nonprofit organization dedicated to economic recovery, is partnering with the city to make this program possible. They have already launched a similar initiative in Compton, California, where 800 families are receiving payments ranging from $300 to $600.
Why Long Beach?
The decision to focus on this particular area of Long Beach was based on careful consideration. The community in the 90813 ZIP code has been hit hard by the COVID-19 pandemic and has shown the highest need based on poverty rates. Shockingly, around half of the residents in this area live below 150% of the poverty level, according to the Long Beach Pledge’s website.
To be eligible for the program, Long Beach residents had to be below 100% of the federal poverty line and have at least one income earner in their household. Applications closed earlier this year, and now the selected households are eagerly awaiting their payments.
When it comes to receiving the funds, residents have multiple options. They can choose to receive their payments through PayPal, direct deposit, Venmo, or a prepaid card.
This program is a fantastic opportunity for Long Beach residents to get the financial support they need during these challenging times. It’s heartening to see organizations like the Fund for Guaranteed Income stepping up to help communities recover and thrive.
So, mark your calendars! Payments will be issued on August 16th, the third Wednesday of the month. Get ready to experience the positive impact of the Long Beach Pledge!
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