RPC Soft Launch
Photo credit: Mr. Dallas Lenear
Rende Progress Capital launched on Wednesday, March 29, 2017 as a Loan Fund and emerging Michigan Community Development Financial Institution (CDFI) and mission-driven lender of loans and provider of investments to Excluded Entrepreneurs who face social and financial barriers to acquiring traditional loans because of bias and racial inequity. At 9:00 a.m. at the Grand Rapids offices of Varnum Law, RPC introduced itself as a new CDFI.
The RPC founding team of Eric K. Foster (Co-Founder, Managing Director & Portfolio Manager), Cuong Q. Huynh (Co-Founder and Managing Director for Investments) and Robin K. Selmon (Board Member) was joined by 35 diverse business leaders, entrepreneurs, investors, foundations, banks, organizations, other stakeholders and Varnum Law to unveil RPC's innovative and proprietary racial equity financing system, financial and social impact measurements, management team and structure to providing loans and investments to Excluded Entrepreneurs and their established and start-up businesses!