Small Business Owners Urged To Apply For IDA Savings Program

If you have a small business in Calcasieu Parish and struggling to build cash flow, you might want to check this out. Asset Builders of SWLA are giving businesses an opportunity to stow away some extra cash by getting an Individual Development Account (IDA). This special savings account is geared to help local small business owners capitalize on their investments. To learn more and to find out if your business meets the criteria apply online today. For more info, you can also call Janelle Harrison at (337) 721-4010 ext. 5015 or visit assetbuildersswla.org.

IDAs create a long-term habit of saving, which is perfect for businesses with low cash flow who want to make big purchases like equipment, or other business expenses. This savings program also comes with incentives matching each dollar saved, with a dollar or more, to help grow your savings account quickly. The matched funds are provided by a federal IDA run by Asset Builders of SWLA and a partnering bank. These funds will be given to participants with an approved business plan, who complete the programs online and in-person courses. The deadline to apply is May 20, 2022.

Business owners who save up to $500 of their own funds, will have the opportunity the earn up to $4,000. The IDA Saving Program is being offered to the public by the Asset Builders of SWLA, in partnership with the Calcasieu Parish Police Jury and the Southwest Louisiana Economic Development Alliance. Partial funding for this program is being provided by the Calcasieu Parish Public Trust Authority and other local agencies.