Ohio Veterans Expand Healthcare Access in Their Community With CDFI Investment
Client: Patriot At Home
Client Location: Girard, OH
CDFI: Valley Economic Development Partners, Inc.
CDFI Service Area: Ohio and Western Pennsylvania
Small business financing
Greg Davis, Craig Colton, and Sean Davis, are military veterans with deep roots in healthcare and have a profound belief in treating every patient as their own family. They are also the owners of Patriot at Home, a home healthcare business founded on the values of duty, honor, country, and compassion.
When Patriot at Home was expanding their footprint across the Ohio region, they ran into office space and staffing constraints. They needed financing to renovate their office to better accommodate the growing team.
They received partial financing approval from Farmers National Bank but faced an equity shortfall required to complete the loan. To bridge this gap, the bank partnered with Valley Partners, which provided the necessary equity financing. This collaboration enabled Patriot at Home to secure the full funding needed while preserving their working capital within their existing bank account.
With renovated office space, and financing from Valley Partners to cover the bank’s equity requirement, Patriot at Home is now able to hire 25 additional staff and healthcare professionals in the Ohio area.
Creating a Healthier Community
Patriot at Home is not only employing their local community but providing them with high-quality and affordable home healthcare services.
In 2024 alone, Valley Partners assisted with injecting nearly $42 million into their local area through small businesses projects. They disbursed more than 200 financial products totaling $15 million, with 71% of businesses located in CDFI-designated underbanked areas.
With federal and philanthropic funding, Valley Partner’s Business Resource Center (BRC), which provides free technical assistance to entrepreneurs, assisted in the development of more than 100 business plans, totaling more than 730 counseling hours. This hands-on support enabled BRC clients to obtain more than $4 million in capital infusion for their small business ventures.
A combination of public and private funding from the U.S. Treasury’s CDFI Fund, the Raymond John Wean Foundation, the Youngstown Foundation, and both the Mahoning and Trumbull County Commissioners (through the Valley Vision initiative), was utilized to strengthen BRC’s business accounting and legal assistance grant program. In 2024, this program graduated 71 entrepreneurs.
CDFIs, like Valley Partners, are experienced and responsible stewards in leveraging public and private funding to create maximum impact and reach in their local communities. Continued support for federal programs is critical to advancing local development and supporting small businesses like Patriot at Home.
CDFIs Uplift Small Business Owners and Local Economies
Small businesses are the backbone of our nation’s economy. Securing financing, however, can present challenges and roadblocks to many entrepreneurs. Without the experience, cash flow, credit, or equity required by many traditional banks and other financial institutions, many small business owners cannot access capital they need to grow. This issue often leaves small business owners at the mercy of predatory lenders and high-cost financing.
CDFIs fill the gap to provide safe, responsible options for borrowers that traditional banks do not reach. In addition, they also offer technical assistance and professional development tools tailored to the unique needs of their small business clients to help them grow and succeed.
Through 2023, OFN members have originated more than $124 billion in financing, which has supported 1 million businesses and microenterprises and helped to create or retain 3.4 million jobs in communities across America that many of us call home.
To learn more about how OFN and our network of CDFIs prioritize small businesses, visit our small business page.
To read other stories about thriving small businesses funded by CDFIs, visit our impact stories page.
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