OFN
  • Our Work
    • What is a CDFI?
    • Key Priorities
      • Affordable Housing
      • Financial First Response
      • Climate Change & Resilience
      • Healthy Communities
      • Native Finance
      • Persistent Poverty
      • Racial Equity
      • Rural Development
      • Small Business
    • Impact Stories
    • Impact Data
  • Investing & Giving
    • Why Partner with CDFIs
    • Invest in CDFIs
    • Invest Through OFN
    • Investor Resources
  • Members
    • Join OFN
    • CDFI Connect Community
    • Take Action
  • Public Policy
    • Partnering with the Public Sector
    • U.S. Treasury CDFI Fund
    • Public Policy Communications
    • Take Action
  • Initiatives
    • Current Initiatives
      • CDFI Community Investment Fund
      • Economic Justice Partnership Fund
      • Finance Justice Fund
      • Good to Grow CDFI Investment Fund
      • Grow with Google Small Business Fund
      • Native CDFI Awards
      • Ned Gramlich Award
    • Past Initiatives
  • About
    • About OFN
    • Mission & Vision
    • Our Team
    • OFN Board
    • OFN Training & Events
    • OFN Careers
    • OFN Financials
    • Contact Us
  • Resources
    • Blog
    • Press Room
    • CDFI Locator
    • CDFI Industry Job Bank
    • CDFI Resource Library
    • Public Appearances
    • CDFI History
    • About CDFIs for Clients

Quick Links

  • CDFI Locator
  • Blog
  • OFN Training & Events
  • Join
  • CDFI Connect Community
Analia Home Health Care Services, ACE client
3rd
August
2017
Conyers, GA

ACE Helps Family-Owned Analia Home Health Care Services Secure A Permanent Home

August 3, 2017

Client: Analia Home Health Care Services

Client Location: Conyers, GA

CDFI: Access to Capital for Entrepreneurs

CDFI Services Provided: 

Financing and technical assistance

Financial and Social Impact

  • Jobs created: 15 full-time jobs
  • Jobs secured: 30 part-time
  • Projected to add: additional 50 jobs
  • Expanding 24-hour skilled service and personal care throughout the Altana-metro region

In 2008, right before the Great Recession, Kethy and Jean Michel took their 20 years of combined clinical experience to found Analia Home Health Care Services (Analia). Through Analia, the Michels wanted to take their passion for providing quality health care for children, families, and the elderly by providing 24-hour skilled nursing services and personal care. Their mission “to make your love ones as happy and comfortable in the only place that can bring them joy… the safety of their own home.”

The business has grown to serve 40 counties, employing 45 nurses in the metro-Atlanta area. Despite the growth, the Michels—who lacked an adequate down payment—were unable to obtain traditional financing when they were ready to transition from rented facilities to owning. That’s when they connected with Access to Capital for Entrepreneurs (ACE).

ACE’s commercial loan officer, Anthony Flack, worked with Analia to secure a loan to purchase an owner-occupied commercial office located on Wall Street in Conyers. This permanent location would provide fixed cost stability, ultimately improving their sustainability and cash flow. Anthony worked with the Michel’s to help them obtain the required documentation needed for package-loan readiness. He provided guidance on what to expect for funding needs long-term to maintain the annual loan documents required by lenders, for site visits, and gain greater insight into understanding their financial statements as their business continues to grow.

With help from ACE, the Michel’s submitted their application in April and closed on their loan at the end of May. ACE provided down payment assistance, partnering with the State Small Business Credit Initiative (SSBCI) delivering a 95% LTV, which meant they only had to put down 5 percent toward the loan. This was a huge cost savings for the company.

“Having a permanent home for our operations gives us the stability and security to focus on building for the future,” said Kethy.

ACE’s Wells Fargo Diverse Community Capital award was a vital source of capital used in conjunction with the SSBCI program to fund the plans to move to ownership, to help this vital resource in the community continue to grow and serve a diverse constituency of patients.

Tags: Disability Assistance, Healthcare, Wells Fargo Diverse Community Capital

Share post to Facebook
Share post to Twitter
Share post to LinkedIn

Opportunity Finance logo - white

  • About OFN
  • Contact Us
  • Blog
  • OFN Training & Events
  • Newsletter Subscription
  • CDFI Locator
  • Invest in CDFIs
  • CDFI Connect Community
  • CDFI Industry Job Bank
  • Press Room

Copyright © 2023 Opportunity Finance Network. All rights reserved.

  • Terms of Use
  • Sitemap