IDA funds available

March 13, 2012 No Comments  

Matched Savings for Education Expenses and Business Assets

Do you need money for college education or job training?  Do want to start a business or expand a business, but don’t have the money you need? The Individual Development Account is an excellent way to raise money to start or grow a business, or to pay for post-secondary education. The IDA is a matched savings account where every dollar the account holder saves is matched with $3 from the IDA program.  Account holders can use the program to raise a maximum of $10,000 for use in a small business or to pay for education and training. The Northeast Oregon Economic Development District (NEODDD) is now taking applications on a first-come-first-served basis for both education and business IDAs.

“The IDA has changed my life.  It has helped me realize that my goals can be attained by hard work, a thought-out business plan and by smart saving,” says one Baker County farmer. NEOEDD has been offering IDA’s in Baker, Union and Wallowa counties since 2008. Over sixty individuals have participated to date, saving nearly $148,000 and receiving over $440,000 in matching funds to pay education expenses or to start or grow a business. You may qualify for an IDA if your total household income is less than $41,000 for a one-person household, $46,850 for a two-person household, or $58,550 for a four-person household.

Anyone interested in learning more about how to apply for an IDA is invited to contact Sara Miller, Jeff Moss or Lisa Dawson at 541-426-3598, visit the website at www.neoedd.org, or email saramiller@neoedd.org. The Northeast Oregon Economic Development District is a public organization which helps individuals start and grow businesses. The IDA program is part of a nationwide initiative based on the idea that people escape poverty and become economically self-sufficient through savings and investment. “The matched savings accounts are a valuable resource for folks with lower incomes to help themselves earn a living,” says Lisa Dawson of NEOEDD.

Jeff Moss

Northeast Oregon Economic Development District
101 NE First Street, Suite 100
Enterprise, OR 97828
Phone: (541) 426-3598, (800) 645-9454
Fax:  (541) 426-9058
www.neoedd.org
jeffmoss@neoedd.org

Growing Business :: Strengthening Communities

Information

Sorry, the comment form is closed at this time.

Looking Forward to Spring Music Gathering

Haines,Oregon…The people of Haines are looking forward to spring and have developed an opportunity for everyone to celebrate with...

From the Chamber

Union County Chamber of Commerce Newsletter March 25, 2015 Our Mission To promote and support the business environment through membership participation and...

TWO ARRESTS MADE IN ILLEGAL MOVERS ENFORCEMENT OPERATION

Lake Oswego, Ore. — March 11, 2015 — Illegal movers operating with unsafe vehicles, improper certification and no licenses continue...

Ribbon Cutting

Women in Agriculture conference

Women in Agriculture Gather to Network and Learn Women in Agriculture one-day conference in La Grande and across region...

Local-Investing Workshops

     

Investment Workshops

Workshops Cover New Oregon Investment Rule   ENTERPRISE, Ore. - More people are becoming interested in local investing as...

La Grande Main Street

    La Grande Main Street Unveils New Membership  Deals for 2015   La Grande Main Street Downtown (LGMSD)...

Newsletter

  2nd Annual Holiday Open House December 2nd It’s almost December so that means it’s time to SAVE the...

Carol Peppe Hewitt Returns to Discuss Local Investing

Carol Peppe Hewitt, author of Financing Our Foodshed: Growing Local Food with Slow Money, returns with her inspiring stories...