Stimulus Checks continue to support the American community, and this time, the eligible beneficiaries will be some residents of Ann Arbor, Michigan.
According to Guaranteed Income to Grow Ann Arbor, this round of assistance will focus on low-income business owners, merchants, and entrepreneurs.
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How much money will this stimulus check-like will deliver?
These stimulus checks represent the third monthly payment for this sector, with each payment amounting to $528. This is part of the program called “Guaranteed Income to Grow Ann Arbor.”
This initiative is spearheaded by the Poverty Solutions team from the University of Michigan.
As a matter of fact, its official website notes that the proposal began disbursing funds at the beginning of 2024, benefiting 100 participants. They will receive $528 for 24 months.
This program aims to provide essential financial support to help local entrepreneurs thrive and contribute to the community’s overall economic growth.
Payment Schedule
The payment of checks is currently scheduled for the 15th of each month. However, this date may be subject to change if it falls on a weekend or a holiday.
Stimulus check-like: Eligibility Criteria
To be eligible for this program, applicants must meet certain requirements. Here are the key points:
- Applicants must be at least 18 years old.
- Applicants of this stimulus money need to be actively employed in small businesses or similar jobs.
- Priority will be given to citizens with salaries equal to or less than 225% of the federal poverty threshold.
Duration of the stimulus
This initiative is planned to continue providing checks to the community of Ann Arbor until next year. So far, it will be the only one since there are no plans for a similar initiative.
Kristin Seefeldt, the Associate Director of Poverty Solutions, stated that they aim to evaluate the milestones achieved by this program.
“This guaranteed income pilot program aims to celebrate the residents who do so much to strengthen our community, yet still struggle to make ends meet,” said Seefeldt in an interview with the Washington Examiner.
Importance of Both Funded and Unfunded Participants
Seefeldt also emphasized that both funded and unfunded participants are “vital to the success of the research study, which will allow other communities across the country to learn from Ann Arbor’s approach to guaranteed income.”