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A local racial equity lending firm secured funding from the Consumers Energy Foundation to advance its work eliminating the racial wealth gap.
Rende Progress Capital (RPC) hired an associate partner for lending opportunity and administration.
When SpringGR started in 2013, there were only about 70 businesses with more than $250,000 in revenue that were owned by people of color in Grand Rapids, as compared to the 11,000 businesses in the city overall in that revenue category.
Northern Initiatives helped 10 Kent County businesses receive forgivable loans they otherwise could not get during the Paycheck Protection Program (PPP), and although the PPP is over, the Michigan-based lender is not done helping under-resourced small businesses.
The West Michigan branch of the Small Business Development Center hosted a webinar highlighting local resources for Black-owned businesses on Tuesday. Speakers at the event included members from local organizations focused on providing Black business owners with advice and resources they can use to grow and sustain their businesses. The webinar covered many resources from organizations like Start Garden, S.C.O.R.E, Rende Progress Capital (RPC) and the U.S Small Business Association that all have programs specifically geared towards Black business owners. These resources aren’t just for peop...