Opportunity in Any Language – Memphis, TN

(Una Oportunidad en Cualquier Idioma)

Kim Palmer has a background in education, but the idea of a daycare center that would teach little ones a second language actually came from her son. “My son has godparents from Chile and Costa Rica who taught him Spanish at an early age,” Palmer says. “I saw the need for everyday people to be able to afford for their children to learn a second language.”

In 2005, Palmer opened Bilingual Academy Memphis (BAM), a Spanish-immersion care center for infants, toddlers, and preschoolers. Children participate in activities typically found in a daycare center, but the BAM staff speaks to them in English and in Spanish throughout the day. The children learn Spanish organically, many quickly becoming fluent with very little effort.

“Our parents love the thought of their children being bilingual,” Palmer says. “And studies have shown learning a second language at this early age increases children’s ability to learn in other areas.”

Like most small business owners, Palmer has faced her share of challenges. She originally leased the building that houses BAM, but when the steadily rising rent made keeping costs in line difficult, Palmer turned to Hope Credit Union for a commercial loan to buy the property.

“HOPE provided us with the funds to buy the land and the building, so we’re no longer paying rent that can be increased. We have an affordable rate and a greater investment in our business.”

As a result of HOPE’s help, Palmer is better able to enjoy the rewards of being a small business owner, including investing in the community and the families BAM serves.

“This community loves BAM and they appreciate us being here. One of the advantages of being a small business owner is having the ability to put your personal heart and soul into it. When you aren’t limited, your clients can see the creativity you want to express and share with them.”