Small Business Program

small-business
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Who Are We?

Asset Builders of Southwest Louisiana supports people wanting to become financially fit and to learn how to save to invest in their small business. Services offered include a matched savings IDA account, business management courses, and one-on-one financial counseling services.  These services help to improve the economic status of low income individuals and families.

With the Asset Builders of SWLA Small Business Program, every dollar YOU save is matched with $8! You could save up to $500 in your IDA account and receive up to $4,000 in match money, giving you a total of $4,500 to invest in your small business!

What Are IDA Accounts?

IDAs are special savings account programs that create an incentive to develop a long term habit of saving for the purchase of an asset. IDAs provide an incentive to save by matching each dollar saved with a dollar (or more) to help your savings grow quickly.

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Requirements

Assets

  • Must have a net worth of less than $10,000 in assets (Excluding One Vehicle and/or One Home)

Small Business

  • Must have an established small business, open for at least one (1) year
  • Must have a small business bank account
  • Must be located in an impoverished area within Calcasieu Parish as defined by the Community Block Grant

Income

  • Must have an EARNED adjusted gross income not in excess of 200% of the Federal Poverty Line OR eligible for the Earned Income Tax Credit

Counseling

  • Must work closely with an assigned Business Counselor
  • Must obtain an approved business plan

Business Training

  • Must attend required orientation and small business training sessions

IDA Savings

  • Must be committed to using your Matched Savings Account to invest in your small business
  • Must be willing and able to save at least $50 per month

Our Partners