IDA (an Individual Development Account)

The IDA Program is an income level based program for individuals who want to start or expand a business. The participant saves money each month towards a goal, and receives a 3:1 match, which can be used for a business related expense (not previous debt). The maximum match that any participant can receive in a year is $3,000. For example, if you save $100 each month for ten months = $1,000 you will be matched $3,000 for a total of $4,000. Participants may save between six and thirty-six months. The maximum amount of match you can receive in a thirty-six month period is $9,000 ($3,000 per year). The beauty of this program is the flexibility you have in your monthly savings. Monthly deposit amounts are not necessarily a 'fixed' amount. IDA participants are required to complete a financial planning training.

For more information, please do not hesitate to call or come by the office to discuss the process and the guidelines in more detail.
LCD Phone: 541-947-5300
Location: Suite 10, Marius Bldg., 100 N. "D" St., Lakeview