Entrepreneur Mei Xu Illuminates the Path for Women Business Owners Through Mentorship

The founder of Chesapeake Bay Candle attributes her company's success to her initial loan from Bank of America. She is now assisting other women, particularly her fellow immigrants, in achieving prominence as well.

Image credit: Bank of America

Upon immigrating to the United States from China in 1991, Mei Xu recognized an opportunity to forge her own path. The founder of Chesapeake Bay Candle had trained as a diplomat for ten years, but understood that she wanted to start her own business—a move that disappointed her father. “I was raised in a nation characterized by its homogeneity,” she states. “I aimed to manifest the beauty that I perceived as absent.” By embracing the risks and opportunities of small business ownership and collaborating with Bank of America from the inception of her company, Xu achieved enduring success. Currently, she is assisting other women entrepreneurs, particularly her fellow immigrants, in pursuing the same trajectory via her e-commerce platform YesSheMay.com.

Xu’s narrative is motivational, however she emphasizes that she did not achieve it independently. Following the positive reception of her candles among American consumers, she saw the necessity of increasing inventory in preparation for the holiday season to sustain growth. However, inventory requires capital—capital that a nascent small business typically lacks. At that time, Xu approached Bank of America for a $500,000 loan to assist her company in preparing for a potentially significant season.

Collaborating with a bank that comprehended the requirements of a small business proprietor—and regarded her as a person rather than a statistic—was essential to Xu’s initial success. “The line of credit serves as a crucial lifeline,” Xu states. “I perceive that we are evolving alongside Bank of America.” It seems as though you are collaborating with individuals rather than a large organization. She attributes those origins—of her enterprise and her professional association with Bank of America—as the pivotal point when Chesapeake Bay Candle truly flourished.

When a small firm thrives, it is not solely the founder who prospers; it ignites a spark that can radiate much beyond an individual. Utilizing her Bank of America loan, Xu established well-compensated factory positions, enabling her female employees to depart work by 4 p.m. to return home to their children. Through the influence of mentorship, Xu's impact is expanding further.

In 2020, during the height of the pandemic, Xu commenced mentoring fellow women entrepreneurs, especially as their enterprises faced disruptions. This prompted her to establish Yes She May, an e-commerce platform focused on linking consumers with premier items from women-owned fashion firms globally.

Xu references a Buddhist adage stating, “when a candle illuminates another candle, it diminishes nothing, yet the world acquires additional light.” Approximately three decades ago, Bank of America catalyzed the inception of Xu’s new enterprise. She is now encouraging additional enterprises to illuminate the path for other women to emulate.