There is a significant need to create accessible financial instruments for low-income populations who are interested in participating in high-quality training programs as a means to attaining gainful employment, but either do not have the financial means to do so on their own or do not meet the income qualifications for support from WIOA or other state or federal funding sources. To serve this population, zero-interest, state-sponsored “Pay-it-Forward” or “Career Accelerator” initiatives have emerged in several states, including New Jersey, Colorado and Indiana. These initiatives utilize income share agreements (ISAs) in lieu of traditional loans. Similarly, this RFP seeks to design a program that will allow individuals, who have these same financial barriers, to participate in training in high-demand fields in Connecticut with financial assistance through an ISA.
Start Date: Nov 16, 2023
End Date: Dec 14, 2023
Workforce Strategy, Office of