The Governor of Connecticut is taking action for federal employees in his state that are affected by the partial government shutdown. Ned Lamont has teamed with Webster Bank to offer no-interest “bridge loans” to assist those going without pay while President Trump and Democrats duke it out on Capitol Hill.
This plan would affect civil service employees as well as members of the Coast Guard – and the loans would be repaid after the back-pay is received. “They wouldn’t be paying any interest on it certainly,” says Webster Bank CEO John Ciulla. “But they would have to pay the principal back at such time they were able to when their pay restarted from the government.”
Other details of the program – such as where, how and when people can apply for these loans needs to worked out – but there’s hope that’ll come down this week. At the moment, Webster Bank is the only company to come forward – Governor Lamont is hopeful others will, too.