Business Expansion and Entrepreneurship Development (BEED) Program
Area IV has the opportunity to provide loans from $1,000 to $25,000 to small business owners in order to help foster small business development, growth in our community, and to create meaningful jobs for lower-income individuals.
The goal of the BEED initiative is to promote community lending to create meaningful, local jobs for low-to-moderate income individuals. Area IV Agency is partners with Indiana Small Business Development Center.
Click here to view the definitive guide to starting a business from the Chamber of Commerce!
For more information or to enroll in the program, call Allie Vice at 765-447-7683 ext. 227 or fill out our contact form.
INDIVIDUAL DEVELOPMENT ACCOUNTS
An Individual Development Account is a bank savings account geared towards low-income individuals to assist in building assets to achieve financial stability and long-term self-sufficiency. An IDA is used for a predefined purpose, such as starting a business, paying for education or purchasing a home. Read below and click the link to download more information about the program. For more information or to enroll in the program, call Allie Vice at 765-447-7683 ext. 227 or fill out our contact form.
WHAT IS AN IDA?
An IDA, or Individual Development Account, is a three-year, matched-savings program designed to assist individuals in achieving self-sufficiency through financial literacy and asset generation. For each dollar you save the State of Indiana will match it with three dollars, up to $3,000. This means if you successfully save $1,000, then the State will match it with $3,000, totaling a combined savings of $4,000 over the three-year period. Maximum Program Balance (3 years) = $4,000
HOW CAN I USE THE MONEY?
You can use your combined IDA savings to:
- Further your education or enroll in a job training program
- Buy a home
- Start a small business
- Pay for essential home improvements
Life Skills Coaching
The goal of life skills coaching services is to provide an assessment, case management, goals development, information, resources and guidance to assist low-income individuals and families to achieve self-sufficiency.
As part of our services, Area IV staff will conduct assessments to identify ways to support individuals with a variety of social and lifestyle needs, provide assistance with setting specific goals and action steps to gain self-sufficiency, provide referrals to other community agencies, as the need arises, and determine eligibility for additional programs.
For more information or to enroll in the program, call Allie Vice at 765-607-5755 or fill out our contact form.
Contact Self-Sufficiency Services