Rende Progress Capital

What Rende Progress Capital does

Rende Progress Capital (RPC) is a U.S. Treasury-certified Community Development Financial Institution (CDFI) and nonprofit headquartered at 818 Butterworth St SW, #13, Grand Rapids, Michigan, in the Goei Center. The firm provides small business loans, technical assistance, asset management, and investment advisory services to underrepresented and underinvested entrepreneurs in West Michigan, including the Grand Rapids, Kalamazoo, Holland, and Muskegon markets. RPC is described in its own materials as the nation's only racial equity loan fund, anchored by the RACE4Progress program.

The lending product set includes the RPC Standard Loan (term loans and lines of credit for businesses ranging from early-stage 6-month-tenure companies to established 5+ year operations), the RACE4Progress Loan targeted at underrepresented entrepreneurs, and a Pre-Loan Readiness Incubator: a six-week cohort program that pays a $1,000 stipend on completion. Underwriting uses a proprietary Progressive Lending Criteria System that blends traditional financial metrics with character-based evaluation, impact investing criteria, and racial equity considerations. Supporting revenue includes technical assistance course fees collected through an iCheckGateway payment portal, plus recurring interest income on the loan portfolio (rates 6-10%, terms 12-36 months, closing fees, personal guarantees, and collateralization required).

RPC is led by co-founders Eric K. Foster (Chair and Managing Director) and Cuong Q. Huynh (General Manager), with a small leadership team including Tamara Jackson-Gatewood (Business Development and Engagement) and Elisa Starnes (Associate Partner for Lending Opportunity and Administration). Distribution is direct and sales-led: prospective borrowers book an initial consultation through Calendly, submit a Pre-Loan Application, and progress through a four-step formal loan approval process, with Spanish-language application materials available. Earned-media channels (WOOD TV, Fox 17, WZZM 13, NPR/WGVU), Entrepreneurial Service Organization referrals, and Amazon-distributed educational resources (Bullet Proof Loan Application Portfolio, Pre-Loan Readiness Program Manual, Pre-Loan Readiness Incubator Workbook) support top-of-funnel acquisition.

Name

Rende Progress Capital

Legal name

Rende Progress Capital Non-profit

Website

https://rendeprogresscapital.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Rende Progress Capital is a U.S. Treasury-certified CDFI nonprofit that provides small business loans, technical assistance, and pre-loan readiness programs to underrepresented entrepreneurs of color across 15+ industries in West Michigan, including Grand Rapids, Kalamazoo, Holland, and Muskegon.

Ownership category

akta.pro rank

Product category

Community Development Lending

NAICS

Credit Intermediation and Related Activities (522)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

SME Term Loans & Growth Capital (FSAKAGAB)

akta.pro secondary industry

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

Keywords

• Community development lending
• Small business loans
• Racial equity finance
• CDFI lending
• Entrepreneur technical assistance

Headquarters

HQ city

East Lansing

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Small Business Loans: RPC generates revenue through interest-bearing small business loans (standard term loans and lines of credit) to underrepresented entrepreneurs. Interest rates range from 6% to 10% with loan terms from 12 to 36 months. Loans include closing fees and require personal guarantees with collateral.
2. Technical Assistance Services: RPC offers paid technical assistance programs including a Pre-Loan Readiness Incubator program. The six-week cohort program provides business training with a $1,000 completion stipend for non-loan customers. Revenue generated through technical assistance course fees via their payment portal.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Rende Progress Capital is a certified Community Development Financial Institution (CDFI) that provides small business term loans and lines of credit (6-10% interest, 12-36 month terms) to underrepresented entrepreneurs in West Michigan. It complements lending with paid technical assistance programs, including a six-week Pre-Loan Readiness Incubator with a $1,000 completion stipend, and publishes educational resources such as the Bullet Proof Loan Application Portfolio sold on Amazon.

Product overview

Rende Progress Capital (RPC) operates as a certified Community Development Financial Institution (CDFI) offering a portfolio of lending products and technical assistance services. The core offerings include RPC Standard Loans (term loans and Lines of Credit for businesses at various stages from early-stage to established) and RACE4Progress Loans. Supporting services include a Technical Assistance eLearning Tool and Pre-Loan Readiness Incubator Program (a six-week cohort-based training program). RPC also publishes educational resources including the Bullet Proof Loan Application Portfolio, Pre-Loan Readiness Program Manual, and Pre-Loan Readiness Incubator Workbook available through Amazon.

Differentiator

Problem solved

Functional benefit

Products and services

• RPC Standard Loan Term loans and Lines of Credit offered to existing, emerging, or early stage small businesses, with fixed or flexible rates between 6-10% and terms of 12-36 months; requires personal guarantee and collateral. Designed for underinvested entrepreneurs in West Michigan who are excluded from traditional lenders.
• RACE4Progress Loan Specialized loan program aligned with the RACE4Progress initiative focused on economic equity and capital creation for underrepresented entrepreneurs; integrates impact-investing criteria into underwriting.
• Pre-Loan Readiness Incubator Program Six-week incubator program for non-RPC loan customers providing hands-on guidance and practical tools to help entrepreneurs become loan-ready; awards a $1,000 completion stipend to graduating cohort participants.
• Technical Assistance eLearning Tool

Quantifiable outcome

• Pre-Loan Readiness Incubator program provides $1,000 stipend to graduating cohort participants

Named customers15 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• Miller JohnsoncoreStrategic or Co-development PartnerLaw firm partner featured in ABA Business Law Section article highlighting RPC's work in addressing barriers facing entrepreneurs of color. The partnership addresses legal and lending barriers for diverse entrepreneurs.
• Craft3coreStrategic or Co-development PartnerWashington state-based CDFI that co-presented with RPC at the Boeing Employees Credit Union annual equity summit on 'Elevate Our Commitment.' Both organizations integrate equity and inclusion in small business lending and project financing.
• Boeing Employees Credit Union (BECU)minorStrategic or Co-development PartnerLargest not-for-profit credit union in Washington and one of the top four financial cooperatives in the country. RPC presented at their annual equity summit focused on DEI in financial services.
• Potlikker CapitalminorStrategic or Co-development PartnerCommunity development investor; Advisory Committee member Lolita Nunn serves as Director of Programs and Investor Relations at Potlikker Capital, providing RPC counsel in strategic focus areas.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Craft3: Washington-state CDFI that co-presented with RPC at the BECU Equity Summit on integrating equity into small business lending. Directly comparable mission, CDFI structure, and small-business lending focus.
• Accion Opportunity Fund: National CDFI providing small business loans and technical assistance to underbanked entrepreneurs, including minority-owned businesses. Closely comparable lending-plus-TA model and target borrower segment.
• Grameen America: Microfinance nonprofit providing small-dollar loans and financial education to women entrepreneurs in underserved U.S. communities. Comparable CDFI-adjacent model serving underbanked SMB borrowers.
• Kiva: Mission-driven nonprofit lending platform that crowdfunds 0% interest loans to small business owners excluded from traditional financing. Comparable inclusive-finance model and underbanked SMB target.
• TruFund Financial Services: National CDFI providing loans, technical assistance, and capacity-building to small businesses in underserved communities, with a focus on minority entrepreneurs. Directly comparable CDFI lending and TA model.
• Pacific Community Ventures: CDFI and small business advisory nonprofit that combines lending with business advisory services for under-resourced entrepreneurs, similar to RPC's lending-plus-TA model.
• LiftFund: Texas-based CDFI providing small business loans and technical assistance to minority and underserved entrepreneurs. Comparable product set, CDFI structure, and target customer.
• Justine PETERSEN: St. Louis-based CDFI providing small business loans, housing counseling, and technical assistance to underbanked entrepreneurs. Comparable CDFI lending and TA mission.

Broad incumbents

• Huntington Bank: Regional bank with a strong Michigan footprint, an established CRA-motivated small business lending program, and overlapping customer base with RPC. Not a direct competitor for riskier underbanked loans, but a likely capital partner and competitor for traditional SMB borrowers in the same geography.

Others

• CDFI Fund (U.S. Treasury): Regulator and primary federal funder of CDFIs. Not a competitor, but central to RPC's certification status, funding access, and program strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/RendeProgressCap
• Xx.com/rendecapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rende Progress Capital