Rende Progress Capital
ABOUT
Rende (The full value of people. To give back. Be profitable. Return.)
Progress (Forward or onward movement toward a destination.)
Capital (Assets, such as cash and funds.)
Rende Progress Capital
Rende: We respect Excluded Entrepreneurs who need opportunities for their business. Progress: We help them achieve economic security for themselves, their families and communities. Capital: As an alternative and mission-oriented lender we create that progress through loans and investments to business owners of diverse backgrounds.
The Mission: Rende Progress Capital (RPC) is committed to economic equity. RPC was founded by two leaders experienced in racial equity and inclusion who are committed to helping those excluded from traditional financing and lending.
The Process and Difference: Through attention to social and racial inequity data, RPC was created to provide socially responsible and affordable lending and investments to Excluded Entrepreneurs—business owners of diverse ethnic backgrounds who have been excluded from traditional lending and investing opportunities for a variety of socio-economic reasons and bias. RPC uses our innovative racial equity system in our lending decisions.
Racial equity also guides our partnership agreements and hiring policies. We appreciate foundations and individual investors who are motivated by supporting diverse businesses, socially equitable outcomes and return on their investments.
Services and Opportunities: RPC provides loans, investments as well as business technical assistance and venture capital boot-camps to our customers. For borrowers interested in our loans and services, please learn more about us.
RPC Facts
1. We serve: The Excluded Entrepreneur.
They are promising. They persevere. Excluded Entrepreneurs are African-American, Asian, Latino, Native American and Immigrants persevering through the combination of racial exclusion in some traditional lending. They are, have been or perceived themselves to be excluded from traditional loans and investments from financial institutions based on a variety of social factors and racial bias.
2. Financing Approval through Racial Equity sm
RPC provides loans through a combination of traditional loan approval criteria merged with our FAREsm system (Financing Approval through Racial Equity). This internal system is used to establish character criteria for a borrower and is used to provide important information and loan decisions that traditional lenders cannot and do not use.
3. Lending Area
The RPC lending and investment area is Michigan [specifically Grand Rapids] at this time with expansion to other areas to follow at future dates. The lending areas has been affirmed by data and insight from Excluded Entrepreneurs.
John Hendershot is the RPC Business Development Director for Opportunity, and is responsible for developing Excluded Entrepreneurs for business technical assistance/pre-loan readiness services and cultivating them as potential customers for RPC loans and investments. He brings to RPC a passion and background in business development and banking to help entrepreneurs prosper in their businesses.
John’s RPC responsibilities is guided by his past experience that includes Chief Executive Officer at DIG-IT where he also managed business development projects and coaching of employees. He also served as Vice President of Finance at Partners Relief & Development, managed his own Leadership Development Consultancy to assist start-up owners and worked as Managing Partner of a company where he managed the design, development and marketing of a variety of products.
John is a frequent writer and author of books, blogs and social media features on socially responsible business practices and leadership. He is a graduate of Western Michigan University and holds a Master of Science in Management and Master of Business Administration from Cornerstone University.