International Institute St. Louis - Economic Development

Economic Development
International Institute St. Louis - Economic Development

Immigrant entrepreneurs are helping fuel St. Louis’ economy. They are refreshing previously neglected inner-city neighborhoods and contributing to our community’s tax base. We help them with technical assistance, loan funds, and interpretation and translation. Business Links Income Tax Assistance Individual Development Accounts (IDA) Locate Immigrant Businesses
Business Links We help work-authorized immigrants and refugees start or expand a business. Our services include loans for qualified immigrant entrepreneurs, one-on-one business planning and technical assistance, sector specific training, and marketing and advertising assistance. We also provide invitations to special topic seminars and referrals to other lending sources and business networks. The Business Links Immigrant Loan Fund provides capital for new and expanding businesses. Loans are tailored to specific business needs. Loan repayment schedules include principal and interest payments at rates similar to those in the commercial banking market. In addition to our office at the Institute, visit us at our South County Business Incubator location: St. Louis Enterprise Center 315 Lemay Ferry Road St. Louis, MO 63125 314-544-1321 Hours: Monday – Friday, 9 am – 5 pm, by appointment only Our goal is to help New Americans achieve economic stability and financial success by business ownership. In turn, our community benefits from increased commercial activity and consequently a larger tax base. Since Business Links was founded in 1999, we have helped immigrant entrepreneurs: Start or expand 200+ businesses, Create or retain 300+ jobs, Generate $30 Million in revenue from participating businesses, and Contribute a resulting $63 Million in total economic impact in the St. Louis region. The overall national success rate for all small businesses is approximately 25% after 36 months. Ours is 77% success for the same period. Who is eligible? Eligibility is restricted to work-authorized immigrants. Income, immigration status, and length of residency may restrict access to some services. Fees vary according to the services being provided and program eligibility requirements. Inquire for details. *What our clients say:* “With the help of Business Links we got our café open a lot sooner. They saved us so much time.” (Client from Bosnia) Contact Information Elvir Kolenovic (kolenovice@iistl.org ) ext. 106 – Bosnian speaker Julie Mauchenheimer (mauchenheimerj@iistl.org ) ext. 135 Evelio Sardiña (sardinae@iistl.org ) ext. 156 – Spanish speaker
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Income Tax Assistance We provide income tax assistance without charge for immigrants. Working with trained tax volunteers, we offer interpretation and translation assistance as needed. More than 90% of our income tax returns are electronically filed to guarantee a fast refund. Annually, services are offered throughout the tax season. Dates: TBD. Registration: All tax assistance is provided on a first-come, first-served basis. Our goal is to provide fast, high quality, free tax assistance to low to moderate income immigrant families. Low income Americans living in the neighborhood surrounding the Institute’s facility on S. Grand Blvd. are also welcome to file at our annual Super Tax Saturday event. Annual tax refunds bring hundreds of thousands of dollars of additional buying power to St. Louis. Who is eligible? Immigrant filers. Services are FREE! They are underwritten by a variety of private and public sources. *What our participants say:* “I saved money. I can pay my bills and maybe keep a little for later. The company down the street wanted me to pay $200 to do my taxes. Why would I do that?” (Participant from Nigeria) Contact Information Evelio Sardiña (sardinae@iistl.org ) ext. 156
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Individual Development Accounts (IDA) We help immigrants and refugees get a firmer financial footing in America by helping them open a matched savings account. Proceeds from the account can be used to purchase a first home, buy an automobile, enroll in post-secondary education, or open a small business. In addition to helping qualified participants acquire such assets by matching their savings, we provide financial literacy and asset-specific training and related services. We provide one-on-one technical assistance to develop a savings plan, overcome challenges with credit or the ability to meet monthly savings goals, enhance the development of personal financial management skills, and problem-solve in emergency situations. Hours: Monday – Friday, 9 am – 5 pm. And by appointment Our goal is to help low income immigrants and refugees move out of poverty by helping them acquire assets which will appreciate and serve as wealth-builders. In the past six years, our clients have successfully saved to achieve more than $5 million in loans leveraged through savings and purchase of assets. Housing purchases are stabilizing neighborhoods, business start-ups are creating a strong tax base for the St. Louis region, and immigrant families are building personal wealth. Who is eligible? IDA participants must be currently employed, work-authorized immigrants and be at least 16 years old. There are strict maximum income and asset guidelines for program eligibility as well. Services are FREE! They are underwritten by a variety of private and public sources. *What our clients say:* “The IDA program helped me feel part of the United States. I learned things that I will use the rest of my life and that will help me have a better life.” (Client from Afghanistan) Contact Information Evelio Sardiña (sardinae@iistl.org ) ext. 156
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