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Grand Rapid — Rende Progress CapitalIt is a small business lender to entrepreneur-owned businesses of color.
BIPOC Vendor Pop Up Event — Scheduled Thursdays from 4-9 p.m. at the Goei Center, 818 Butterworth St. SW, Grand Rapids, with approximately 10,000 attendees from a variety of industries including food service, digital marketing, construction and industrial design. 50 vendors will exhibit. .
John Hendershot
courtesy photo
“We would like to introduce some of the clients we have worked with and also introduce (Rende Progress Capital) to other business owners. Director of Opportunities at Rende Progress Capital, “We also have a handful of partners in the entrepreneurial space, and they and they have Some customers may not have known about the resource.”
Rende Progress Capital collaborates with NAACP, Spring GR and West Michigan American Asian Association to host and sponsor this event.
Founded in 2017, nonprofit Rende Progress Capital is a community development finance institution (CDFI) focused on “excluded entrepreneurs”. During the COVID-19 pandemic, Rende established his RACE4Progress Fund. The fund offers low interest small business loans from $10,000 to $25,000 with flexible terms.
The organization identifies excluded entrepreneurs as “underrepresented in the Grand Rapids area and Western Michigan, which face documented statistical barriers to traditional capital because of racial bias by some lending institutions. “African American, Asian, Latino, Native American, and Immigrant Business Owners Representing Evaluated Business Owners of Color.” ”
Over the past four years, the organization has received a $125,000 annual technical assistance grant from the US Department of the Treasury’s Community Development Financial Institutions Fund. Rende Progress Capital also received a $500,000 investment in 2020. Meyer Co., Ltd. To support our loans, programs and services.
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