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Lifeline loans are a great option for many people, but some people wonder why the city of Seattle is able to give away so much money each year. The reason is that in most instances, these funds do not need to be paid back. It is all paid by the state. If a person's income has increased substantially, then they can qualify for even more assistance with purchasing a home or starting a small business. Unfortunately, these funds are not available to everyone, but fortunately there are several groups who can help.
The king said that the state has two million people who live below the poverty level. The two million people who fall into this group constitute the majority of the nation's needy population. Those who qualify for the Lifeline Loans are entitled to receive grants ranging from fifty thousand dollars to two million dollars, depending on their income level. Those who qualify are required to have an acceptable credit rating and be in an area where they make at least twenty-five hundred dollars per month. If a person falls under one of these qualification criteria, they can apply to receive financial assistance.
According to the king, the creation of the Lifeline Loans was created to help those in need get the finances they need. Anyone who is interested can simply call the city of Seattle's Finance department to learn more. Those who qualify can also apply online. The councilmember responsible for the Lifeline Loans program states that all applicants are screened for qualification based on whether they receive federal assistance and whether they receive a grant through King County.
If you are wondering what the difference is between this program and the traditional government grants aimed at reducing poverty, then the king said "That is why we have the councilperson sandke to recommend to you the significance of this program." The role of the finance department is to provide information on programs as well as to find out about their success rates. To qualify, applicants must be at least eighteen years old. Applicants are also required to state how much money they need. If they receive a grant they must pay it back with interest according to the terms of the agreement.
The king also stated that the Lifeline Loans program "isn't intended to be an expansion" of the public comments made about the ads, but rather a "modification" of the current program. He went on to say that he has seen many negative public comments and has listened to concerns raised by people in regards to the adus. Therefore, the councilman said he is planning on modifying the program to better meet the needs of all those who are in need of funds. According to the councilman, he will be looking into the possibility of allowing more people to apply for the loans if they do not meet the prerequisites. Other areas that he wants to look into are possibly increasing the number of eligible residents from a certain group, and changing the criteria in order to make it easier for some people to qualify than others.
The Coronado ordinance amendment was passed by the full council without debate or special action. However, some residents have already begun to voice their opposition to the program. According to one resident, who did not want to be identified, she was surprised that the councilman took a position against Lifeline Loans. She claimed that her ancestors have been receiving Lifeline Assistance for over twenty years, and that the program is one of the only ways they've found to keep their families fed. Others claim that the new regulations will discriminate against low-income families and therefore force those families to go elsewhere for services.