Render Capital Announces Second Annual First Dollar Program; Aimed at Supporting Black and Brown Entrepreneurs in Louisville and Southern Indiana

Render Capital, a venture capital firm that is focused on providing early-stage risk capital for entrepreneurs in Louisville and Southern Indiana, has announced its second annual First Dollar program, which will help support Black and Brown entrepreneurs in the area by providing them with critical “first dollar” grants to help their startups thrive.

“Not all entrepreneurs have equal access to capital to grow their businesses,” said Patrick Henshaw, Managing Director at Render Capital. “We know that business ownership is an amazing way to create generational wealth for one’s family, but studies show that capital from friends and family, that many entrepreneurs use to get things off the ground, is not always as readily available for Black and Brown entrepreneurs. We have seen so much momentum through the first year of this program and we hope that with the help from our partners we can continue to support local entrepreneurs and fill this critical funding gap for their businesses.”

The First Dollar program is launching its second year of activity in collaboration with our founding partner Access Ventures, and will provide $5,000 grants to 20 local businesses at the earliest stage of business development, for a total contribution of $100,000 to the local community. Grant recipients will be for-profit organizations, located in Jefferson County, Kentucky or Clark and Floyd County, Indiana, who are seeking their first significant capital contribution. To determine which local startups will be funded, Render Capital has partnered with four local organizations – Louisville Urban League, Russell: A Place of Promise, GEDDI, and Amplify Louisville. Through this partnership, Render Capital is empowering those who work closely with Black and Brown entrepreneurs to facilitate the disbursement of grant funds. As part of the First Dollar program, the four partnering organizations have until the end of 2022 to distribute funds to the startups of their choosing.

The 20 entrepreneurs who received funding for their businesses in 2021 through the First Dollar Program include:

Because of the support from First Dollar, many of these businesses have seen an increase in revenue and had a profitable year of business. “Business is doing great! I’ve added two new products and improved my marketing and customer retention. For the next couple of months I will push to gain more momentum and reach more people,” said Jaelah Wilson, Founder of Pure Intent.

"We are so proud to partner again with Render Capital's First Dollar Program," said Cherena Fox, GEDDI Program Director. "These grants are crucial to boost early business development and make a significant impact for emerging businesses, as well as the communities they serve."

"Access Ventures is delighted to continue our funding of the First Dollar Program as a part of our larger regional capital initiative that aims to increase access to capital for excluded entrepreneurs locally," said Bryce Butler, Managing Director of Access Ventures. "This program is a collaborative community effort and we invite any organization who is passionate about this work to join us." Organizations interested in playing a role in The First Dollar program should email meghan@workwithrender.com To learn more about the program, visit www.render.capital/firstdollar.