By Arlenys Tabare
May 5, 2024, 3:18 PM EDT
For this coming Wednesday, May 15, in the town of Ann Arbor, Michigan, a stimulus check of up to $500 will continue to be distributed among the 100 selected entrepreneurs through a guaranteed income program called Guaranteed Income to Grow Ann Arbor.
The program led by Poverty Solutions at the University of Michigan aims to continue promoting local entrepreneurs in the midst of a high inflation rate that continues to economically affect the country’s small businesses
How was the selection process?
According to the statement, the people who could apply for this stimulus check were “entrepreneurs, formal or informal small business owners, independent contractorswho provided informally paid services or gig workers in various industries.”
In addition, they had to have a series of requirements to be able to apply, among which the following stand out:
- Be residents of Ann Arbor.
- To be 18 years old or more.
- Have had an annual income limit equal to or less than 225% of the federal poverty line.
How much is the exact amount you receive every month?
The program began sending the first payments on January 15 and since then it will continue to distribute checks for an exact amount of $528 every day on the 15th of each month for 24 months.
The appliers They may also receive financial assistance from other food or economic assistance programs. such as the Supplemental Nutrition Assistance Program or Pell Grants while they are receiving their payments.
Finally, Kristin Seefeldt, associate director of Poverty Solutions, mentioned about this economic relief that “This guaranteed income pilot aims to celebrate residents who do so much to strengthen our communitybut they are still struggling to make ends meet,” he said.
Keep reading:
- Who will benefit from the $725 stimulus check in California?
- Which states will continue to send stimulus checks of up to $500 in May 2024?
- Social Security Could Make Some Changes to Your Payroll: Here’s What You Need to Know