Individual Development Accounts (IDAs) are matched savings accounts that help income-qualified families buy their first home, make improvements to their home, pay for post-secondary education or job training, or start or expand their own business.
Program requirements:
- Participants’ income must fit within guidelines
- Participants must not have more than $10,000 in assets (not including their home and one car)
- Open and maintain an account for a minimum of six (6) months
- Make a $20 minimum deposit every month
- Save $667
- Use the funds toward one of the program goals: homeownership/home improvement; post-secondary education; small business start-up or expansion
- Complete economic skills classes: a five-part workshop and an asset-specific class.
Once the participant reaches the savings goal of $667, Southern Good Faith Fund matches the savings $3 for every $1 saved for a total of $2000 toward their goal.
Program limitations:
- $2,000 maximum life-time match for individuals
- $4,000 maximum life-time match for household
- Funds must be used for home ownership or improvement, starting or expanding a small business, or post-secondary education.
Contact us online today for more information, or call Enrique Castro, Program Coordinator in Pine Bluff, (870) 535-6233 x.16 or Mindy Maupin, Program Coordinator in Helena-West Helena, (870) 816-1104.
Find an Arkansas IDA Program Near You
Please select your county for the service provider(s) in your area:
CADC
870.234.6444
ida@cadc.cc
www.cadc.com
CAPCA
501.329.3891
www.capcainc.org
Chicot Housing Assistance Corporation
870.265.3237
Crawford-Sebastian CDC
479.784.9298
www.cscdccaa.org
Crowley's Ridge Development Council
870.935.8610
crdcIDA@crdcnea.com
www.crdcnea.com
EOA of Washington County
501.521.1394
www.eoawc.org
Healthy Connections
479.437.3449
www.healthy-connections.org
Southern Good Faith Fund
870.535.6233
www.southerngff.org
Universal Housing
479.968.5001
CAPCA
501.329.3891
www.capcainc.org
Chicot Housing Assistance Corporation
870.265.3237
Southern Good Faith Fund
870.535.6233
www.southerngff.org
CADC
870.234.6444
ida@cadc.cc
www.cadc.com
Southern Good Faith Fund
870.535.6233
www.southerngff.org
Chicot Housing Assistance Corporation
870.265.3237
Southern Good Faith Fund
870.535.6233
www.southerngff.org
Crowley's Ridge Development Council
870.935.8610
crdcIDA@crdcnea.com
www.crdcnea.com
Southern Good Faith Fund
870.535.6233
www.southerngff.org
CADC
870.234.6444
ida@cadc.cc
www.cadc.com
Healthy Connections
479.437.3449
www.healthy-connections.org
