Earn a Matching Business Grant with an Individual Development Account
KJ and Beth, Owners of Global Sistergoods
Read their story
Mercy Corps Northwest supports people looking to start a small business with matching grants. Participants save $1,334, get matched with $4,000, and use the total to purchase fixed business assets. This service is known as an Individual Development Account (IDA).
What is an Individual Development Account (IDA)?
IDAs are matched savings accounts that enable low-income American families to save, build assets, and enter the financial mainstream. IDAs reward the monthly savings of working families who are building towards purchasing an asset - most commonly buying their first home, paying for post-secondary education, or starting a small business. Mercy Corps Northwest offers small business IDAs.
STEP ONE: Learn how our IDA program can help your business with a matched small business grant.
“Mercy Corps Northwest helped me turn a hobby into a successful crafting business. Through its IDA program, I had the opportunity to save money, learn about running a business, and ultimately make more money to support my family. By the time I finished the class, my sales had doubled. A resource like MCNW is essential for the creative people in Portland who want to make their ideas a reality.” —Corinna Buchholz, owner of piddix LLC
New Opportunity for IDA Recipients!
Are you a Mercy Corps Northwest IDA recipient who is committed to your business and ready to take the next step? You may be eligible for a second IDA! To be eligible, you must have had one year since your first IDA, one year of P&L and Cash Flow, have your business income be more than 65% of your total income, and complete our Foundations 2 course. Additionally, you must meet the income and net worth criteria as your first IDA.