Like so many others who lost their jobs in the recession, Devie Basuki saw 10 years in his chosen career suddenly come to an end. In June, his position as a branch manager in the Cayman Islands at Indonesia-based Bank Danamon was eliminated.

Basuki decided to return to Los Angeles, but he couldn’t find another job in banking despite six months of searching. Then one day, he happened upon a booth for a janitorial company, ServiceMaster Clean, while at a job expo in downtown Los Angeles.

There, he learned about ServiceMaster’s $32,000 franchise scholarship, which covers the franchise fee and provides training for those looking to start their own business.

Not many 41-year-olds apply for scholarships, but Basuki wrote an essay and ended up earning one. In February, the ex-banker and his wife launched their own janitorial service. He said he was “a little bit” scared of failure at first, but has already landed a few clients, including a warehouse and medical office.

“It’s a new hope,” Basuki said. “I’m confident with the brand that I can grow this company and hopefully I can pass this company down to my son.”

The franchise scholarship was created in partnership with pro basketball player Shane Battier to expand franchise ownership to women and minorities, said Dave Messenger, vice president of market expansion for the Memphis, Tenn.-based ServiceMaster. A dozen scholarships already have been awarded nationwide.

Basuki credited the opportunity with saving him from the low he’d hit last year when he was living off his savings with a wife and 4-year-old son to support. He’d even taken to driving friends of friends to and from the airport for money.

“It was really tough, especially when you’re the head of a family,” he said. “I was so desperate at the time.”