Starting Savings to realize a dream of a home
or business!
The story of the IDA Program in
Detroit begins with Michigan Neighborhood Partnership. MNP is the
oldest IDA program in Metropolitan Detroit having begun our program
in 1999.
The story
of the IDA Program in Detroit begins with Michigan Neighborhood Partnership.
MNP is the oldest IDA program in Metropolitan Detroit having begun our
program in 1999. IDA is a unique programs developed to help low income
individuals build assets and participate in the American dream of homeownership,
owning a small business or continuing with a post secondary education.
Since developing the program in 1999, over 200 Detroiters have increased
their assets and moved from dependence to wealth building. Program participants
have started day-care centers, recording studios, produced movies with
Hollywood actors, started dance studios, created commercial photography
studios, began landscaping industries, graphic arts studios and retail
clothing outlets.
On the homeownership
front, MNP has helped many clients purchase new homes by using their
IDA accounts as down payments. In the area of post-secondary education,
we have seen our clients complete vocational educations, junior college,
and graduate with Bachelor's and Master's Degrees.
This
year we are extremely excited to introduce two (2) new concepts that will
literally expand our collaborations and impact the lives of hundreds of
low-income families. These IDA program concepts are: Circles
of Hope and
a virtual IDA Business Incubator.
MNP
Micro Enterprise Incubator
MNP will develop
a business incubator to service our IDA micro enterprise clients. The
principle areas of focus will be marketing, advertising, accounting and
business finance. IDA clients will be able to tap into the resources
of various experts, practitioners and business students who will be available
both as consultants and service providers. An important element of this
new service is personal mentoring by Detroit area business owners. The
objective is to build a team of individuals who will commit themselves
to assisting the IDA entrepreneur in reaching their goals in accordance
to their business plan.
MNP will connect
our colleges and university partners with out IDA clients as well as
various professional organizations and corporations. The micro enterprise
incubator will be developed in two phases: The virtual incubator system
and ultimately the MNP Micro Enterprise Center.
