EBT 2 CASH

Pilot in Chinatown homeless shelters, and then hopefully expand across the city thereafter

Unhoused People

Low Income People

Some vendors in the city use illegal methods to allow EBT card holders to cash out their benefits at a cost. May SNAP/CA recipients use these methods because (1) they don't have a kitchen to cook food or (2) they need/want cash for other purposes. This comes at great cost to the city and taxpayers, and benefits the illegal vendors who are making a profit off of a loophole. Additionally, many individuals with adverse backgrounds have a hard time building a livelihood because of poor spending habits and addictions. Even though they may want to save money for the future, it can tend to be difficult because of their past patterns and their current environments.

Population: Unhoused individuals, irregardless of if they reside in DHS-funded shelters or other transitional housing programs. Program: Offer a no-cost program allows unhoused individuals to cash in their SNAP benefits and/or cash assistance benefits directly into a savings account that they cannot withdraw from until one of two things happens: (1) they secure housing or (2) two years passes from their entry into the program. While the cash is in savings, it accrues interest at a market rate. Additional services: Funding will be used for promoting the program. Funding will also be used for personal finance education sessions that explain the benefit of this program as well as other best practices.

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