Michigan will provide $528 monthly payments to low-income small-business owners in just eight days
The Next Round of Monthly Payments for Small Businesses and Entrepreneurs in Ann Arbor
The Guaranteed Income to Grow Ann Arbor program is set to send out the next round of $528 monthly payments in just eight days. This program, led by the University of Michigan’s Poverty Solutions team, aims to support small-business owners and entrepreneurs in Ann Arbor who are facing financial difficulties. With $1.6 million in federal American Rescue Plan funds allocated towards the program, 100 participants were randomly selected from a pool of applicants who demonstrated financial need.
A Two-Year Pilot Program
The payments, which will be sent out on the 15th of each month, will continue until 2025. Kristin Seefeldt, the associate director of Poverty Solutions, confirmed that the payment schedule may vary slightly depending on weekends or holidays. The goal of this guaranteed income pilot program is to provide support to residents who contribute greatly to the community but still struggle to make ends meet.
Qualifications and Eligibility
To qualify for the program, applicants had to be residents of Ann Arbor and at least 18 years old. Their income had to be at or below 225% of the federal poverty line. Individuals who receive or are eligible for federal assistance programs like the Supplemental Nutrition Assistance Program or Pell Grants were likely to meet the criteria. The grant was open to a wide range of individuals, including entrepreneurs, small business owners, independent contractors, gig workers, and those who provide paid services informally across various industries.
Don’t miss out on this opportunity to receive financial support and strengthen the Ann Arbor community. Apply now!
How are participants selected for the Guaranteed Income to Grow Ann Arbor program?
The Guaranteed Income to Grow Ann Arbor program is set to send out the next round of monthly payments in just eight days. This program, led by the University of Michigan’s Poverty Solutions team, aims to support small-business owners and entrepreneurs in Ann Arbor who are facing financial difficulties. With $1.6 million in federal American Rescue Plan funds allocated towards the program, 100 participants were randomly selected from a pool of applicants who demonstrated financial need.
The payments, which will be sent out on the 15th of each month, will continue until 2025. Kristin Seefeldt, the associate director of Poverty Solutions, confirmed that the payment schedule may vary slightly depending on weekends or holidays. The goal of this guaranteed income pilot program is to provide support to residents who contribute greatly to the community but still struggle to make ends meet.
To qualify for the program, applicants had to be residents of Ann Arbor and at least 18 years old. Their income had to be at or below 225% of the federal poverty line. Individuals who receive or are eligible for federal assistance programs like the Supplemental Nutrition Assistance Program or Pell Grants were likely to meet the criteria. The grant was open to a wide range of individuals, including entrepreneurs, small business owners, independent contractors, gig workers, and those who provide paid services informally across various industries.
Don’t miss out on this opportunity to receive financial support and strengthen the Ann Arbor community. Apply now!
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