PayPal is giving free cash advances to federal workers that haven’t been paid since December.
The government shutdown is now in its 5th week with no end in sight. Since December 22nd, government employees have been without pay, with some vital services still forced to work despite not being paid for it.
Roughly 800,000 federal government employees are feeling the pinch as the political crisis continues its grip on Washington. A bill has been passed that at least guarantees that federal workers will receive full back-pay once the shutdown ends, but there’s no telling when that’ll be.
But in the spirit of America, where the government fails, corporations step in. PayPal is offering furloughed government employees a free cash advance to tide them over until the government reopens and cheques are in the mail.
As per PayPal’s website, they’re offering an “interest-free one-time cash advance, up to your available credit line for a maximum of $500 (with a minimum amount of $250).” This requires government employees to both have a PayPal credit account and also present proof of their government employment. They’re also required to still be in “good standing” with PayPal, so if you’ve ever got on PayPal’s bad side then this is not going to be an offer for you.
To apply for PayPal’s free cash advance, you must be a government employee and then call a special hotline at 1-877-689-1975. The PayPal rep who answers the phone will then verify your government employment and provide you with the terms and conditions of the advance: o% interest and 0% Annual Percentage Rate (APR).
You do eventually have to pay the loan back, and you’ll still be required to make minimum payments every month after receiving the loan (PayPal doesn’t specify just how much the minimum payment will be). Also, PayPal will end the program after the government re-opens and everyone receives their back-pay, or until PayPal’s earmarked $25 million in assistance runs out.
PayPal reps are available Monday to Friday from 8 AM to 11 PM EST and Saturday to Sunday from 9 AM to 9 PM. It sounds like one of the few good deals for government employees to be able to afford groceries, so we recommend jumping on it until that $25 million is gone. Something tells us the money will dry up before the government reopens.