Last year, the city of Long Beach in California initiated a pilot program for families facing financial difficulties, providing them with a guaranteed income. Now, approved applicants will receive their payments within two days.
The Long Beach Pledge, established as part of the Long Beach Recovery Act, is set to allocate $500 per month for 12 months to 250 families residing in the west-central 90813 ZIP code area and having children.
The payment distribution is scheduled for August 16, which falls on the third Wednesday of the month, as stated by the Fund for Guaranteed Income to the Washington Examiner.
The program ceased accepting new applications shortly after the beginning of this year. To qualify, families had to have an income below 100% of the federal poverty line, with a single income provider for the household.
This specific region of Long Beach was chosen for assistance due to its high level of need, influenced by both poverty rates and the significant impact of the COVID-19 pandemic. The Long Beach Pledge’s website reveals that approximately half of the residents in this area live below 150% of the poverty threshold.
The nonprofit organization Fund for Guaranteed Income, which is the program’s collaborator and contributes to economic recovery, has also established a separate fund in Compton, California. This fund benefits 800 families with payments ranging between $300 and $600.
Families selected to receive aid will have the option to choose their preferred payment method, which includes PayPal, direct deposit, Venmo, or a prepaid card.