Assisted Living Facility Finds Funding and a Place to Call Home

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Overview

After working in long-term care for nearly 18 years and receiving his master’s in healthcare administration, Dexter Guice recognized a problem in the industry: There are stigmas associated with nursing homes that prevent the older and disabled population from seeking the care they need. According to Zimmerman et al., these negative perceptions include the fear of social exclusion, losing independence, and generally feeling less valued due to age or disability.

Additionally, Guice found that these individuals believed that admission to a nursing home meant sacrificing their quality of life. And with the population of adults ages 65 and up exponentially growing by the day in his community, he knew that, statistically, more long-term care resources were an absolute necessity, and much of this group was avoiding these key resources because of the stigmas connected to them.

To help eliminate the problem, Guice desired to create a favorable alternative to long-term nursing homes: a Type B licensed assisted living facility. It would allow residents to receive the appropriate level of care based on their individual needs while limiting restrictions and promoting community, so they’re encouraged to not only be independent but also remain engaged with others and maintain their self-worth.

I am grateful to the SBDC for all the help and support I receive. Amy and the team at GCSBDC are amazing, sincere, and dedicated professionals who work hard to see small businesses develop and grow. I am proud to partner with my local SBDC and encourage anyone with a vision to develop or grow their business to do the same. You will not regret it! 

Dexter Guice
Owner, Victorious Assisted Living

The Inception of Victorious Assisted Living 

Dexter Guice started his research to begin laying the foundation for what would eventually be Victorious Assisted Living. In April 2010, he attended the Galveston County SBDC’s “Orientation to the SBDC” event to learn more about the organization and the resources we offer entrepreneurs and small businesses. He also registered for the “How to Write a Business Plan” seminar, where he discovered the ins and outs of the documentation and what was necessary to include to secure a business loan.

The following month, he contacted the Galveston County SBDC for guidance on securing funding. Although Guice had some equity saved, it was not yet enough to build a home suitable for the assisted living services he wanted to provide. Amy Reid, his advisor and the Director of the Galveston County SBDC, recommended adjustments to his business plan to make it more appealing to lenders. She also provided general guidance until he was ready to apply for a loan.

Securing a Home

Victorious Assisted Living front buildingIn June 2022, Dexter Guice returned to the Galveston County SBDC, now in a position to start meeting with potential lenders.He had found a property for Victorious Assisted Living in Santa Fe, Texas, which he had already put earnest money on; all he needed was the start-up capital. “Upon returning to the SBDC, I was excited to see Amy Reid still hard at work. She welcomed me back with enthusiasm and helped me resume my business plans to move forward as though no time had lapsed,” he says. Amy helped him revise his business plan to make a compelling case for a loan. She also later introduced him to a potential lender.

In July 2022, Guice finally closed on the property: “It was with the support, guidance, and great encouragement of the GCSBDC that I quickly became able to approach multiple banks to secure an SBA 7A loan.”

Victorious Assisted Living had its official grand opening the following year and currently has a full 24-hour staff on board to support its residents. The facility is expected to reach its maximum capacity by June 2024. Guice says, “This loan has literally made my dream come true of building the first of its kind, 16-bed residential assisted living facility in Galveston County.”

According to Amy Reid, “Dexter is the epitome of a true entrepreneur. We've been working together since 2010, when he first set his sights on launching his business. Fast-forward to the end of 2023, and he's turned that dream into reality! Dexter's all-in dedication to financial literacy and his never-give-up attitude make him a shining example of entrepreneurial spirit.”

Continued Support from the sBDC

Victorious Assisted Living outdoor signDexter Guice continues to use the SBDC’s resources and advice as his business evolves: 

“I thought that after securing a small business loan, there would not be any further need or value in maintaining a relationship with my local SBDC. However, I am quickly seeing that this is far from the truth.

As I continue to develop and grow my business, I am learning to work ‘smarter,’ which for me is found in the support of my day-to-day small business needs from my SBDC. This support is so much more than developing a business plan and securing funding. In addition to expert guidance and counseling, the SBDC has provided me with endless resources in the form of networking, education, and training opportunities...

I am grateful to the SBDC for all the help and support I receive. Amy and the team at GCSBDC are amazing, sincere, and dedicated professionals who work hard to see small businesses develop and grow. I am proud to partner with my local SBDC and encourage anyone with a vision to develop or grow their business to do the same. You will not regret it!"

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Aries Payne - Communications Coordinator
June 30, 2024

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