FACT CHECK: Did Federal Government Make $5,000 Of Loans Available To Citizens?

A post shared on social media purports the Federal Government made $5,000 of emergency loans available for U.S. citizens.

Verdict: False

The caption is inaccurate. A spokesperson for the Department of Treasury confirmed the claim is false.

Fact Check:

A bill proposing to ban stock trading for members of Congress received bipartisan support by New York Democrat Rep. Alexandria Ocasio-Cortez and Florida Republican Rep. Matt Gaetz, CBS News reported. The bill is designed to prevent lawmakers from using insider knowledge to make stock decisions, according to the outlet.

The Facebook post purports $5,000 loans are available to American citizens. The post shares a photo of Biden and members of congress applauding.

“Emergency loans program is finally open!” The caption reads, “American people needed this stimulus again! Emergency loans are finally available to the U.S. Citizens up to $5,000 even with poor credit. The process is very simple and only takes 2 minutes to find out. It’s absolutely a no-brainer to take advantage of this opportunity today! Tap the button to see how much you get.”

There are no credible news reports suggesting that this loan has been set in place. A spokesperson at the Department of Treasury confirmed the claim is false via email to Check Your Fact.

“There are no new stimulus payments like that described in these social media posts,” the spokesperson stated. “Any type of program like that would require legislation from Congress.” (RELATED: Is Kenya Getting Rid Of The U.S. Dollar?)

There has been no such press release from on the Treasury Department website. Likewise, there is no Congressional legislation that has been passed that matches the alleged stimulus policy. 

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