Residents of Long Beach, California, who have been approved for disbursements from the city’s secure income pilot initiative will witness the arrival of their funds within a span of three days.
The Long Beach Commitment, unveiled during the previous year under the Long Beach Revival Act, will furnish a monthly sum of $500 for a year to 250 eligible families with children. The primary intention of this fund is to assist households residing within the west-central 90813 ZIP code, grappling with financial challenges. These payments, as stated by the Fund for Guaranteed Income, are slated for issuance on August 16th, the third Wednesday of the month.
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This program operates in collaboration with the Fund for Guaranteed Income, a non-profit entity dedicated to aiding economic recovery. Said distinct fund had launched a diverse initiative in Compton, California, endowing 800 families with disbursements ranging from $300 to $600.
The choice of this particular region within Long Beach for receiving aid was predicated on an analysis of poverty rates, revealing a dire necessity, exacerbated by the adverse impacts of the COVID-19 pandemic. It’s noteworthy that approximately half of the area’s residents live below 150% of the poverty threshold, as reported on the Long Beach Pledge’s official website.
To meet eligibility, Long Beach denizens had to exhibit income below 100% of the federal poverty line, with a single income provider for their household, as was stipulated during the application period.
Submissions were closed at the commencement of the year, and the selected households will be able to receive their disbursements through PayPal, direct deposit, Venmo, or a preloaded card.