Residential Care Facility Receives $65,000 Loan
The inspiration behind Promises Kept, Inc. arose from a need unmet; co-founder James Buckman’s mother suffered a stroke and the in-home care that James and his wife, Lori, employed did not provide sufficient care.
The situation reminded Lori of seeing her own father “zombielike” in a convalescent home.
“We wanted to open a facility that’s more like a home, since it’s many peoples’ last home,” says Lori.
Created from their efforts to care for their own loved ones, Lori and James Buckman launched Promises Kept, a residential care facility serving elderly adults aged 60 and above. At their flagship location, they provide 24 hour care for an intimate group of 6. The staff at Promises Kept tailors their services to each client, from administering medication to providing meals that suit each clients’ taste, in order to foster a safe and compassionate environment.
James says, “We don’t want our clients to be sad, misused, abused, and disrespected. I know how I want my family to be treated. Once our clients are under our wings, they’re family.”
Lori and James wanted to take their services a step further, seeking to supplement clients that can’t afford Promises Kept’s monthly fee. “Some people are short anywhere from $500-$1,000 a month,” says Lori.
The Buckman’s search for a lender led them to Vermont Slauson Economic Development Corporation.
“VSEDC IS A LIGHT AT THE END OF A DARK TUNNEL”
Thai Buckman, the Buckman’s daughter and Technology and Innovation Program Coordinator at VSEDC, urged her mother to apply for a loan. The Buckmans were approved for a total of $65,000 toward Promises Kept.
The $65,000 was put toward subsidizing cost of services for clients, hiring two new full-time employees and increasing pay for staff, and training resources for families transitioning to caregiving roles.
Of the loan process, Lori says, “It’s hard when you’re a self-funded business.”
James adds, “We weren’t able to find funding through traditional lenders.”
“VSEDC was able to see the good where others wouldn’t, and they have the ability to fund businesses that banks don’t normally fund. [VSEDC] has the resources to help [your business] expand and get the cushion you need,” says Lori.
AROUND THE CORNER
The Buckmans plan to open two additional locations of Promises Kept, all within the same neighborhood of Ladera Heights. The intention is to keep Promises Kept as local as possible, serving the community and hiring staff within the community. Locality also means easier maintenance, training, and supply distribution between locations, ensuring continued excellence in care.
Their second location is “just around the corner” from their flagship location, and is set to open within the next 30-45 days.
The Buckmans are currently working with VSEDC Senior Business Coach Terry Gubatan to secure additional funding for their third location of Promises Kept, as well as capital for reserves, minor improvements, furnishing, and the state requirements for a new facility.
As they expand, the mission remains the same. James says, “We treat people right and we take good care of people in their later stages of life. We want them to be happy, we want their families to be happy, and we want them all to enjoy the remainder of their lives.”
Find out more about Promises Kept here.