• By Todd Luck
• Posted Tuesday, May 27, 2025

Small Business IDA Program helps entrepreneurs grow their business

Forsyth County Community and Economic Development celebrated the latest graduates of its Small Business IDA (Individual Development Account) program on May 21.

The Small Business IDA Program is a match savings program for low to moderate income small business owners. Combining financial literacy and small business education with a strategic savings plan, participants earn funds to expand their small business. The entrepreneurs plan to use the funds they earned on everything from marketing to equipment to help improve and expand their businesses.

Each business saved $3-4,000 and received $12-16,000 in matching funds:

Cheresa Miller, Cheresa's Hair Design – A salon, established in 2018, specializing in natural hair care, braids, locs and other beauty services, including lashes wax services and more. IDA funding will be used for marketing efforts, new shop equipment and new technology

Lakenya Samuel, The Good Life Nail Bar – A salon specializing in custom nail designs. As a mobile business it supports bridal events, proms and birthday parties and can cater to groups. IDA Funding will be used to purchase new equipment that will support the mobile nail business.

Precious Hairston, Precious Paparazzi – A boutique clothing shop based in North Carolina founded in 2000 that sells the latest fashion collections, as well as pieces from past collections at discounted prices. IDA Funding will be used to expand the business reach and cater to new customers.

Lindey Lengyel, Blue Stream Enviromental – The environmental consulting firm helps clients enhance water quality and promote sustainable practices through comprehensive services like stormwater pond inspections, water resources consulting, and erosion and sediment control. IDA Funding will be used to construct an equipment shop to store tools and supplies, which will eliminate the need for current rental space and improve efficiency by having all its supplies in one place.

Samantha McKinney, Create A Heart Marketing – A boutique digital marketing firm that specializes in social media management, email marketing and paid ads management. IDA funding will be used for new marketing materials, a strategic Google Ad campaign, and a business vehicle to support travel to client sites and trade shows.

The Small Business IDA Program is taking applications for this year’s cohort through July 5. You can find more information and apply at: https://www.co.forsyth.nc.us/housing/SmallBusinessIDA.aspx

Forsyth County is proud to work with its partners, Experiment In Self-Reliance and S.G Atkins Community Development Corporation, and The Winston Salem Foundation on this program.