Many immigrants to the United States know that owning their own business could lead to a better life for their families and become a road to the financial mainstream. However, without access to financing, many very small businesses cannot scale up and become profitable.
Josephine Talieh came to the United States from Cameroon in 1993. For nine years, she struggled to support her three children and mother by working very long hours at minimum wage.
In 2002, she was able to start Easton Healthcare with just her personal savings. Her vision was to offer in-home nursing and personal care services that far exceeded the standards of her competitors. In addition to the basic duties of health care, Talieh shopped for her clients’ groceries and even took them out of their houses to social events and dances.
For six years, Talieh grew her business and supported her entire family as the only employee. The demand for her services increased, and in 2008 she was ready to hire assistance and rent a larger office. Because her credit history and citizenship status excluded her from the financing she needed, she came to ECDI.
Through ECDI’s programs, she was able to receive the capitalization and one-on-one assistance she needed to expand her business. Since then, Easton Healthcare’s revenues increased 30 percent, and she has expanded her residential nursing services to include three additional counties. This growth also led to the creation of more than 40 jobs. Without a loan from ECDI, Talieh’s business would not have become a reality.
Talieh’s success is certainly a testament to her perseverance and strength of character. It also speaks to the powerful role that microenterprise development plays in creating and retaining jobs.
Since 2004, ECDI has made more than $9 million in loans to about 550 small businesses, creating or retaining about 1650 jobs. Every business and job created or retained equates to state and local tax dollars. In addition, ECDI has brought millions of federal dollars into the local economy and has helped keep those dollars circulating locally through small business capitalization.
In the past, ECDI has been able to finance businesses like Easton Healthcare primarily through federal, state, and local programs. As the demand for our small business financing products skyrocketed, we knew it was time to create a new source for loan funds by launching the Invest Local Ohio campaign.
Every dollar committed by individual investors to the Invest Local Ohio program will be loaned to a local small business and leveraged with at least two more dollars from other ECDI loan funds, and guarantees a minimum two percent return. Investors have the opportunity to lift up hardworking entrepreneurs like Josephine Talieh, whose success bolsters the local economy, creates jobs and taxpayers, and translates to more Ohioans participating in the economic mainstream.
To learn more about Easton Healthcare’s services, visit EastonHealthcareServices.com.
If you could invest in fuller lives for Central Ohioans looking to capitalize their dream, would you? For more information on becoming an investor in the Invest Local Ohio campaign, contact ECDI President Steve Fireman at 614-732-0577 or [email protected]