Rende Progress Capital [RPC] is pleased to announce a lending partnership with the Doug and Maria DeVos Foundation to assist Excluded Entrepreneurs who are in the early stages of their business tenure who also face barriers to conventional lending due to racial bias by some in the industry. RPC is also pleased to utilize the foundation's resources to such businesses who are affiliated with SpringGR and AmplifyGR.
Please review the following aspects of the Doug and Maria DeVos Foundation/RPC lending initiative:
1. RPC lending to Excluded Entrepreneurs---African-American, Hispanic, Asian-American, Native American and Immigrant business owners facing lending barriers.
2. RPC will conduct a majority of its lending focus on early stage Excluded Entrepreneurs--- businesses in operation less than two years. Some lending will be provided to businesses classified in the RPC standard of Emerging (businesses in operation for two to five years) and Existing (in operation for five years or more).
3. RPC will conduct a majority of its lending focus on early stage Excluded Entrepreneurs affiliated with the SpringGR and AmplifyGR programs. SpringGR and RPC are official partners.
4. RPC approved loans will be used for working capital, lines of credit, capital for equipment and other uses guided by RPC’s racial equity loan criteria and approval factors.
5. For more information, interested parties may contact RPC Opportunity and Lending Officer Kevin Davis at firstname.lastname@example.org
RPC is pleased to receive the confidence and support from the Doug and Maria DeVos Foundation and the partnership with SpringGR and AmplifyGR.
“RPC appreciates the Doug and Maria DeVos Foundation allowing us to service new business owners of color who are coming into the market under just under two years or less. While we have provided loans to existing and emerging businesses, we have received information on new businesses graduating from programs like SpringGR and others who deserve consideration in their fledging stages. We look forward to helping them start, grow and sustain,” remarked Eric K. Foster, RPC Co-founder, Chair and Managing Director.
Please visit the following link for the full press release announcement by selecting the Press Release titled RPC.Loan.Initiative.DMDVF.RPC at https://www.rendeprogresscapital.com/downloads