PayPal CEO Dan Schulman says it is contributing $25 million to help federal workers with an interest-free loan up to $500 who are dealing with uncertain times.
With the federal government shutdown at over one month, over 800,000 federal employees are not receiving a paycheck since President Trump refuses to sign legislation funding parts of the government unless a border wall is allocated in the federal budget.
PayPal is offering an interest-free cash advance up to $500, the equivalent of one week’s take home pay, for any existing or new PayPal Credit customers who are federal employees, and are struggling to make ends meet. PayPal has committed to fund up to $25 million of interest-free cash advances to help federal government employees pay for food, gas, and other everyday necessities. The program is being served through partnership with financial services company Synchrony.
Other companies like AT&T, Wells Fargo, Kraft, Chase are offering programs to assist federal employees who are having trouble paying bills.