RPC Launches Pre-Loan Readiness Incubator with 13 Entrepreneurs of Color
On June 24, 2021 Rende Progress Capital [RPC] launched its Pre-Loan Readiness and Incubator Program. 13 Excluded Entrepreneurs of Color Business Owners and participants have been confirmed [**see participants below**] and all of them have started the first course on Thursday, June 24, 2021 to begin this 9-week program for:
1. Being introduced to RPC as a racial equity small business lender.
2. Engaging in loan application preparation learning and techniques for loan preparedness.
3. Receiving RPC teaching and counsel in financial principles within the RPC loan application process.
4. Completing simulated business planning and mock loan applications for actual review, feedback and decisioning to prepare them for the RPC lending application process.
Upon completion, **business owner/entrepreneur participants** will receive a financial award.
With support from Fifth Third Bank and the U.S. Treasury Community Development Financial Institution Fund, RPC is pleased to start this program incubator and congratulates these participants from diverse racial and business industry backgrounds journeying with us to strengthen their learning and preparation for loan readiness:
Christopher Simmons, StudioHenre, LLC [African American Male--Business Owner]
Salia Georgete, West Michigan Home Care [Asian American Female--Organization Participant]
Arick Davis, Last Mile Cafe, [African American Male--Business Owner]
Tiffany Gray, Taxes by Tiffany [African American Female--Business Owner]
Emmanuel Esparza, E&E Lawn & Snow Services [Hispanic Male--Business Owner]
Juan Salmoran, Casa Pintura [Hispanic Male--Partner]
Edgar Guerrero, Casa Pintura [Hispanic Male--Business Partner/Employee]
Jodie Rykse Salmoran, Casa Pintura [Hispanic Female--Business Partner/Employee]
Ange Kramo, Shiloh Assets Management [African American Male-- Business Owner]
Pavel C. Mendez-Jimenez, Mendez Carpeting [Hispanic Male--Business Owner]
Sarah Brandt, Auntie’s House [Native American Female---Organizational Participant]
Dr. Lisa Marie Barnes, Believers Home Care, LLC [African American Female--Business Owner]
Krishna B Bista, Krishna B Bista Interpreter [Asian American Male--Business Owner]
RPC responds with innovation to lending barriers that Excluded Entrepreneurs of Color face--both capital and non-capital. The Pre-Loan Readiness and Incubator Program was developed to:
* Provide a deep, interactive and resource-awarding program to provide Excluded Entrepreneurs of Color with additional knowledge beyond our standard technical assistance to learn about loan application processes.
* Address the opportunity and information barriers that Excluded Entrepreneurs of Color face in loan application procedures due to not having engagement and opportunities to apply for conventional loans [nearly 90% of RPC loans customers never received a small business loan before].