By Coconino County Health & Human Resources — Business Empowerment Services
For individuals looking to start or expand a small business, the Save then Spend More program may be the hand-up you need. This program helps small business owners and those wanting to start a small business access two match grant dollars. Generally, the process is as follows:
- Qualify and enroll in the Save then Spend More program
- Create a business plan (see our Building Businesses and Entrepreneurs (BBE) training above)
- Save money monthly in a Save then Spend More account for at least six months, up to $2,000
- Request saving and match grant withdrawals to purchase items listed in your approved business plan
- Your Save then Spend More savings, up to $2,000, plus a match grant, up to $4,000, funds your purchases.
Eligibility Requirements
- Proof of Coconino County residency
- Have discretionary income sufficient to make monthly Save then Spend More saving deposits
- Have household liquid net-worth (owned liquid assets minus owed liabilities) less than $10,000 (home and primary vehicle excluded)
- Have household annual adjusted gross income, not exceeding 200 percent of the federal poverty guideline. (Note: For a household of one the maximum eligible income is $27,180. For larger households add $9,440 for each additional household member.)
Those eligible for the Earned Income Tax Credit (EITC) or Temporary Assistance to Needy Families (TANF) typically qualify for this program.
Save then Spend More Application Process
- Complete the Pre-Screening Tool
- Read and sign page 11 of the IDA Guidelines
- Complete the IDA Application
- Complete the Participant Agreement
- Email program manager and attach:
- The pre-screening tool
- Signed page 11 of the IDA Guidelines
- The IDA application
- The Participant Agreement
- Proof of Coconino County residency (copy of utility bill with name and address)
- Photocopy of government-issued photo identification (driver license)
- Photocopy of last two months of pay stubs
- Photocopy of last two months of bank statements
- Photocopy of most recent federal tax return
Typically, Save then Spend More program staff will contact you within two weeks to request any missing documentation or schedule an appointment. If you need help enrolling or have questions, please contact us.