$4.00 for Every $1 saved
Up to $4,000 Matched
For every $1 a participant saves, SU IDA will match $4 up to $4,000.
Louisiana’s Statewide TANF-Funded MED Program
The Louisiana Statewide Temporary Assistance for Needy Families Micro Enterprise Development (TANF MED) Program, is administered by the Southern University Office of Research. Small business resources will be provided by the Louisiana Small Business Development Centers at Southern University Baton Rouge, Southern University Shreveport, and The Southern University Small Business Development and Management Institute in New Orleans.
The program is extended to TANF eligible individuals across the state of Louisiana. The goal of the program is to assist individuals with business start-up. Participants receive training and individual consulting in the areas of business planning, financial literacy, and assistance in developing a successful and sustainable business model.
Upon successful completion of the program, new business owners can take full advantage of the IDA (Individual Development Account) program, administered by the Southern University Center for Social Research. The IDA program is a matched savings program that will provide matched funds toward small business start-up. For every $1 a participant saves, Southern University IDA will match $4 up to $4,000.
For information about the IDA Program’s home ownership, or continuing education initiatives, contact the Southern University Center for Social Research.
Start your journey towards business ownership and financial freedom.
5 Steps Away From Business Ownership
One Step Away From Financial Freedom
CONTACT US
Louisiana residents interested in starting a business can contact a representative at Southern University or the community extension site at: (225) 228-5550.
PRE-ASSESSMENT
An Intake Specialist will conduct a pre-assessment to determine eligibility. (Eligibility is determined by the State of Louisiana TANF criteria.)
TRAINING
Eligible participants that have completed the pre-assessment application process will be invited to attend an entrepreneurial and financial literacy comprehensive training session for TANF clients. (Training sessions are held in-person and virtual. Sessions are statewide.)
CONSULTING
TANF clients will be assigned a TANF-MED consultant to assist in navigating through the process of starting their business. This includes: Business planning andfinancial projections.
FUNDING
Congratulations! You have successfully started your business. You are officially a Louisiana Business Owner. (The distribution of reimbursable business related expenses up to $4,000 will begin.)
Interested persons may download the pre-assessment form and submit to: [email protected] or request assistance with completing the form.