In West Michigan, too many entrepreneurs of color face barriers to capital and support — not because of a lack of talent or drive, but because of systemic inequities in financial services. Rende Progress Capital (RPC) is working to change that, and since 2020, the DTE Foundation has proudly supported their mission.
RPC is the nation’s only racial equity-focused, nonprofit loan fund and a certified Community Development Financial Institution. Through affordable small business loans and culturally relevant technical assistance, RPC empowers under-resourced entrepreneurs of color to grow their businesses, create jobs and build generational wealth.
With support from the DTE Foundation, RPC has helped:
- Nearly 50 entrepreneurs secure affordable small business loans.
- More than 300 entrepreneurs receive personalized business coaching and technical assistance, and 60 received these services for FY 2024.
- Over 10 partners with corporations and law firms to expand marketing, contractual opportunities and resolve legal matters for RPC loan customers.
- Create more than 10 new jobs and sustain over 15 existing ones during FY 2024.
“Economic progress must be inclusive to be meaningful,” said Rodney Cole, president, DTE Foundation. “Rende Progress Capital is doing the critical work of removing barriers and opening doors for entrepreneurs who have been historically excluded. We’re proud to support their efforts to build a more equitable and vibrant economy.”
RPC’s approach is rooted in racial equity, humility and sincerity. Their services are designed not only to grow businesses, but to uplift families and communities through long-term economic empowerment.
“Our mission is to finance dreams and expand opportunities for those who’ve been left out for too long,” said Eric Foster, chair and managing director of Rende Progress Capital. “The DTE Foundation’s partnership helps us reach more entrepreneurs, provide deeper support and create lasting impact in the communities we serve.”
This partnership reflects the DTE Foundation’s commitment to Economic Progress, ensuring that all entrepreneurs — regardless of background — have the opportunity to thrive.
