Small Business Program

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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 to improve the economic status of low income individuals and families.

With the Asset Builder's 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

Small Business

  • Must have a established Small Business, Open at least 1-year Minimum
  • Must have a Small Business Banking Account

Assets

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

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 Guidelines

Counseling

  • Must work closely with 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 monthly

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