Alfa Demmellash, CEO of Jersey City based Rising Tide Capital, was honored in June at the White House by President Obama after seeing her recognized as a CNN Hero for her work helping low-income entrepreneurs start or grow their own businesses. Alfa, born in Ethiopia, and her husband Alex Forrester started Rising Tide Capital shortly after both graduated from Harvard in 2004.
Rising Tide Capital helps struggling “mom-and-pop” get loans, develop their businesses and improve their financial results. Seventy percent of their clients are single moms, all relying on their businesses to support their families. Other clients include those previously incarcerated, minorities, the unemployed and immigrants and refugees, working poor and immigrants and refugees.
Rising Tide Capital operates the Community Business Academy that provides intensive training coupled with ongoing coaching and mentoring to its target underserved community population, Funding for the programs comes primarily from corporations and local government agencies.
For her work Alfa was also honored earlier in 2009 by CNN as one of their 2009 Heros. To learn more visit www.RisingTideCapital.org and click on the CNN Heroes frame.