Rende Progress Capital (RPC) announces grant support from the W.K. Kellogg Foundation. Eric K. Foster, RPC Co-founder, Board Chairman and Managing Director/Portfolio Manager is pleased to report that the W.K. Kellogg Foundation has provided a $100,000 grant to support the work of RPC. RPC was created to provide lending, investments and services to Michigan Excluded Entrepreneur-led businesses facing barriers to receiving traditional loans and services because of racial bias.
On behalf of the board and RPC's Co-founder and Managing Director for Investments, Cuong Q. Huynh, Foster stated his appreciation to the Kellogg Foundation for their support and journey with RPC. As Foster stated, "We appreciate the Kellogg Foundation's recognition of RPC's distinctive features such as Financing Approval through Racial Equity (FARE) and other criteria to be used in our lending and investment decisions to provide capital to Excluded Entrepreneurs. I am pleased that the Kellogg Foundation is supporting our racial equity-oriented decision making in loans and investments to Excluded Entrepreneurs in order to lift up their businesses, create and increase profit, strengthen working families and create economic equity while eliminating the racial wealth gap and racial lending disparities.
Please visit the following link for the full press release announcement by selecting the Press Release titled Press Release: WKKF RPC Grant at https://www.rendeprogresscapital.com/downloads