Matched savings program for business start-ups and expansions can turn $3,000 into $9,000.
NeighborImpact is offering a matched savings plan – also called an Individual Development Account (IDA) – to help Central Oregonians quadruple their savings to expand and build business. The IDAs are designed to strengthen the local economy by increasing business opportunities, home ownership, college education and job training. The goal is to encourage saving and future financial growth and stability through a matching grant program. Central Oregon residents looking to start or expand a business may be eligible for NeighborImpact’s IDA program.
To qualify for an IDA, you must meet specific income requirements, establish a business plan and participate in NeighborImpact’s financial coaching and workshop services. NeighborImpact will work with you to develop a monthly savings plan and will match every $1 you save with $3. If you can save up to $3,000 toward a business investment, NeighborImpact will turn that savings into $9,000.
For more information visit: http://www.neighborimpact.org/services/skills-for-success/matched-savings/ or contact HomeSource of NeighborImpact at 541-318-7506 x309.