Monthly payments of $528 started going out to small businesses and entrepreneurs in Ann Arbor, Michigan , last month, and the next round of payments will be sent in nine days.
A two-year guaranteed income pilot program led by the University of Michigan’s Poverty Solutions team, called the Guaranteed Income to Grow Ann Arbor, selected 100 participants randomly from an applicant pool of small-business owners and entrepreneurs who demonstrated financial needs. A total of $1.6 million in federal American Rescue Plan funds has been allocated toward the program.
Payments will be sent out on the 15th of each month, depending on when weekends or holidays fall, Kristin Seefeldt, the associate director of Poverty Solutions, confirmed to the Washington Examiner this week. The payments are slated to run through 2025.
“This guaranteed income pilot is about celebrating residents who do much to strengthen our community but are still struggling to make ends meet,” Seefeldt said last year.