Self Sufficiency

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

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