RPC announces new loan to first emerging and first African-American Woman Owned Business
Rende Progress Capital [RPC] is please to announce a new RPC loan customer within a current loan review queue. This new RPC loan customer is True2Size Shoes which is a new online specialty shoe store located in Grand Rapids, Michigan but with a market reach and following of women customers throughout the country.
True2Size Shoes provides women with fashionable and affordable shoes in hard-to-find sizes. The loan to True2Size Shoes, founded and owned by Care Monique Allen, also marks another set of RPC loan milestones. First, True2Size Shoes is the first Emerging business financed by RPC. Second, it is the first RPC loan to an African-American Woman Owned business. Third, it is the first business referred to RPC by SpringGR---a RPC partner that assists entrepreneurs to develop their business idea or new business.
The company will use the RPC loan for inventory expansion, marketing, supplies and other operations. The loan also addresses a predatory loan product that the business engaged in due to an inability to access conventional loans.
RPC considered this enterprise based on business considerations, financing racial equity criteria, the owner's perseverance through inequities and its inclusive business practices. RPC Co-founder, Chair and Managing Director Eric K. Foster remarked that, “RPC also approved this loan based on the True2Size Shoes business model, values and marketing to womxn---women of all types, transgendered women and women of color customers.....we are glad that [the company] is committed to gender and racial inclusion."
Please visit the following link for the full press release announcement by selecting the Press Release titled Press Release: RPC Press Release: True2Size Shoes at https://www.rendeprogresscapital.com/downloads