Luis Diaz has always had an affinity for numbers and a desire to help others. This skill and desire led him to volunteer time preparing taxes through a program he ran at his local labor union to help low-income individuals. He saw an overwhelming demand for the services and wanted to establish his own tax preparation business. Luis had big dreams but limited resources. Could he ever hope to open his own business?
Fortunately, Luis connected with United Way of King County's Individual Development Account program. The program offers a match rate of $3 for every $1 saved. It helps low-income people accumulate funds to start a small business, go to school or buy a house.
After graduating from the program, Luis opened Fabs Solutions, which offers accounting and tax preparation services, as well as mortgage industry diverse services such as business loans, home mortgages and refinances.
"If it wasn't for United Way's IDA program, I wouldn't have the successful business I have today. The money I saved, combined with the match, made it possible for me to set up a real office, purchase equipment and hire the staff I needed," Luis explained. During his time in the program he learned how to build a business plan that has helped his business rapidly grow and be more successful.
Luis was so impressed with the IDA program that after he graduated he volunteered his time to act as a financial advisor to it. "I wanted to give back to my community and help others like I had been helped," he said.
Helping low-income individuals save money and invest it in a home, education or business enables people to become self-sufficient and stable. It's just one way United Way of King County works to reduce poverty and improve our community.
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