JPMorgan Chase-Backed Propel Launches $20M SNAP Relief Fund As Millions Of Families Wait For Food Benefits During Government Shutdown
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Fintech company Propel launched an emergency fund on Oct. 28 to deliver direct cash assistance to families affected by the government shutdown's disruption of $8 billion in monthly Supplemental Nutrition Assistance Program payments. The company aims to raise $20 million to help low-income households bridge the gap while federal food benefits remain delayed. Propel said the relief effort will channel immediate $50 transfers to eligible SNAP recipients through its app, providing short-term support
📄 Summary
Fintech company Propel launched an emergency fund on Oct. 28 to deliver direct cash assistance to families affected by the government shutdown's disruption of $8 billion in monthly Supplemental Nutrition Assistance Program payments. The company aims to raise $20 million to help low-income households bridge the gap while federal food benefits remain delayed. Propel said the relief effort will channel immediate $50 transfers to eligible SNAP recipients through its app, providing short-term support