Eric Foster
Principal Founder, Chair & Managing Director, Rende Progress Capital and Principal, Progress Strategies
- Role
- Principal Founder, Chair and Managing Director at Rende Progress Capital
- Location
- East Lansing, MI, US
- LinkedIn followers
- 500 followers
About Eric Foster
Eric K. Foster is Principal Founder, Chair and Managing Director of Rende Progress Capital (RPC), a certified Michigan Community Development Financial Institution (CDFI), and the only racial equity focused loan fund in the nation. RPC provides small business loans, credit enhancements/investments and business technical assistance to businesses owned by Excluded Entrepreneurs of Color in Michigan facing barriers to conventional small business financing because of racial bias/inequity and other barriers. Foster is also Principal of Progress Strategies+, a project management consultancy firm leading multi-industry project management initiatives for corporations, businesses and non-profits. He also leads the three Progress Strategies+ social responsibility Project Client Group Areas of Diversity and Inclusion, Corporate Social Responsibility and Public Policy Advocacy.
Experience
Principal Founder, Chair and Managing Director
Jan 2016 — Present · MI, US
Principal Founder, Chair and Managing Director of Rende Progress Capital (RPC), the nation\'s only racial equity focused loan fund and emerging Michigan Community Development Financial Institution (CDFI) providing small business loans, credit enhancements/investments and business technical assistance to Excluded Entrepreneurs of Color facing social and financial barriers to acquiring traditional loans because of bias and racial inequity. Foster is responsible for the CEO function as Managing Director responsible for day-to-day management in operations, lending, investor relations, strategy and product development. He is leading the successful efforts of capital acquisition from foundation, bank and corporate sources, investor relations, media relations and recently achieved milestone with the RPC Loan Committee of providing its first loan to an Excluded Entrepreneur led business by end of 2018/Q4.He also leads the RPC team in portfolio management tracking, management and risk-management of RPC\'s loan portfolio, financial and social impact measurements. RPC is the only CDFI combining traditional loan approval criteria with racial equity standards through the FARE system (Financing Approval through Racial Equity)(sm) and other factors guiding loan approvals.
Education
Northwestern University
Project Management, School of Professional Studies
2015
University of Notre Dame - Mendoza College of Business
Executive Education and Certification
2014 — 2015
Hope College
B.A.
1992 — 1995
Skills
- Social Services
- Non-Profits
- Strategic Planning
- Strategic Communications
- Nonprofits
- Research
- Program Management
- Public Speaking
- Volunteer Management
- Program Development
- Community Development
- Leadership Development
- Leadership
- Public Relations
- Fundraising
- Community Outreach
- International Relations
- Event Management
- Editing
- Event Planning
- Social Media
- Workshop Facilitation
- Grants
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