Individual Development Accounts (IDAs)

Individual Development Accounts (IDAs) are matched savings accounts designed to help you build savings for an investment with a high return. Your Washington C.A.S.H. IDA savings can be used to make large purchases—such as a vehicle, inventory or equipment—for your business.

The business owner saves up to $2,000 and those funds are matched two-to-one through foundation grants and federal contributions, for a maximum saving amount of $6,000 (business owner = $2,000, match = $4,000, total =$6,000). This is an effective way to help borrowers develop good saving skills, capitalize their businesses, and learn about the power of building assets.

If you are interested in starting an IDA account and you’re a Washington C.A.S.H. graduate with a business living in the Puget Sound region, contact Josie at josie@washingtoncash.org.

(Please note: Washington C.A.S.H. only offers IDAs for business. To be eligible for the IDA program, participants must first successfully complete a Washington C.A.S.H. Business Development Training and become a certified group member of a Washington C.A.S.H. Business Group.)