FORT WANE, Ind. (WANE) – Americans across the nation are waiting on their stimulus checks as part of the government’s $2.2 trillion economic rescue.
The stimulus package was approved to help Americans weather the storm from the COVID-19 pandemic. Locally, Greater Fort Wayne says there are many elements that will help employees and employers, to keep Fort Wayne’s community moving.
“First and foremost, one of the biggest problems that employers are seeing is the access to capital and liquidy,” said Greater Fort Wayne CEO John Urbahns. “There are some specific programs in this legislation that will be working to get out to employers.”
Some of those programs include:
- Economic Disaster Loans, which are working capital loans that are available to small businesses and non-profit organizations to help the business meet their financial obligations.
- Small Business Administration Loans to provide financing for the purchase of fixed assets.
- and the Significant Paycheck Protection program, which is the Coronavirus Aid, Relief, and Economic Security(CARE) Act that allocates billions of dollars to keep workers employed.
But what about those who are unemployed?
“Unemployment was a big piece of the stimulus package as well, they waived the one week waiting period so the states will be able to work very closely with the federal government,” said Urbahns. “It’s going to be an extension of unemployment benefits as well as an increase of benefits from the federal government to help increase the unemployment rate over the next few months.”
Some residents in our area have unique circumstances and wonder if they will qualify if they are on disability or currently receiving social security.
“It’s our interpretation that they will receive a stimulus check, we believe all taxpayers are eligible regardless of what type of benefits they are receiving from the social security administration whether those are disability benefits or not,” said Greg Reynolds, president of Reynolds Wealth Management.
Stimulus checks are expected to be deposited of mailed out in a few weeks.
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