Long Beach, California, residents who applied and were accepted to receive payments from the city’s guaranteed income pilot program, providing $500 a month for 12 months to 250 qualifying families with children, will see their funds in eight days.
The Long Beach Pledge, launched through the Long Beach Recovery Act, was allocated $2 million from the city to provide aid to families living in the west-central 90813 ZIP code struggling with finances. Payments will be issued on Aug. 16, the third Wednesday of the month, the Fund for Guaranteed Income told the Washington Examiner.
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The program partnered with the Fund for Guaranteed Income, a nonprofit organization that helps with economic recovery. That separate fund also launched a different program in Compton, California, giving 800 families between $300 and $600 in payments.
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Residents in this area of Long Beach were chosen to receive the funds because it saw the highest need based on poverty rates and the effects of the COVID-19 pandemic. About half of residents in the area live below 150% of the poverty level, according to Long Beach Pledge’s website.
Applications closed in February, and selected households can receive their payments through PayPal, direct deposit, Venmo, or a prepaid card.
