In 2022, the Washington State Legislature created the Community Reinvestment Account, setting aside $200 million to address racial, economic, and social disparities in Washington communities disproportionately harmed by the historical design and enforcement of state and federal criminal laws and penalties for drug possession–better known as the war on drugs.
AHANA was one of three Spokane organizations awarded a grant under the Community Reinvestment Financial Coaching and Mentorship category. This program prioritizes Black, Latine, and Native American tribal communities impacted by the historic design and enforcement of state and federal criminal laws and penalties for drug possession.
The program aims to help individuals and families build a financially stable future while honoring their cultural backgrounds. Participants will receive trauma-informed financial coaching, business coaching, and homebuyer education. This program will end June 30, 2025.
A limited number of applicants will be able to take advantage of our 6-week mentor and financial coaching program aimed to help them get prepared to start a business and or buy personal capital such as a home. We have two mentors who will work with small cohorts of up to 10 people. Small group cohorts will allow for the mentor to work one-on-one with an individual to achieve their personal goals. New cohorts will begin each 6 weeks. Those who successfully participate in the program will also receive $500.
Financial Coaches + Partners
Participants will work directly with a financial coach/mentor that have a past as a justice-involved re-entry person. Our two financial coaches are Angel Sam, one of AHANA’s newest employees and Jermaine Williams, Spokane Director, with the Black Rose Collective. Both know the community and are being trained on Financial Coaching by AHANA’s founder who has a background in the subject. (Bios and photos to come)
We are also partnering with The Way To Justice, a local women of color owned law firm to provide outreach to the community of this program.
Qualifications
To qualify for the program individuals need to meet the following criteria:
- Be justice involved or an immediate family member of a justice impacted individual
- Have a living situation with an address (shelter, transitional living, housing)
- Be job ready or in a training/education program, working with another organization
- Have established income
- Be committed to finish the 6-week program. The program will allow you to have the flexibility to work within your learning abilities.
Expectations
- Do the homework!
- Must attend all one-on-one meetings with mentor/coach
- Must attend and come prepared and on time for all one-on-one coaching and cohort trainings
- Have One-on-one coaching (an 60 minute average meeting)
- Notify your coach 48 hours by email/text/phone before a meeting or workshop that they cannot attend the workshop training.
Measures of success
- Success in getting all of the financial documents ready to meet with a financial lender and a business or personal plan done.
- Success in getting the participant in front of a financial lender.
- Success in the participant getting the loan.
- Additional success is measured by recognizing startup businesses that have survived their first 3 to 5 years in business
Additional benchmarks
- Obtaining or maintaining employment
- Obtaining a vocational credential or AA degree
- Receiving additional public benefits for income support
- Improving their credit ratings
- Opening savings and checking accounts
- Reducing their debt
- Contributing to a monthly savings account
- Saving for retirement or children’s education
- Work towards improving credit
- Increasing their income to narrow the gap between their current income and self-sufficiency
- Initiating the building of savings or assets
Long Term Goals
- Attaining a self-sufficient wage
- Reducing their debt-to-income ratio to less than 45 percent
- Improve their credit score to at least 650
- Accumulate savings equivalent to 3 months of living expenses
Sign up!
We choose not to use online forms or email at to sign up to protect each applicant’s privacy. To sign-up for this program scan the QR code below or call AHANA at 509-503-1024 ext 145 or our outreach partner The Way to Justice at 509-822-7514.
