Plano, Texas Sep 9, 2023 (Issuewire.com) - RCG, LLC, an innovative, purpose-driven firm committed to the creation of affordable housing in urban areas for underserved markets, today announced it has launched a Series A round of financing. Malibu Holdings seeded the investment round with participation from Dr. Ron D. Ford. The investment will further the company’s aggressive expansion of its support for its portfolio. Dr. Ford will join RCG’s board of directors.
Malibu Holdings supports early-stage startups that redefine or create large new markets, with such notable ventures as Quixote Studios, Smashbox Cosmetics, Think Thin Nutrition, JMB Model Management, and St. Clair Entertainment.
The Series A financing builds on an exceptional start-up of RCG which is rapidly growing. RCG intends to increase the development of energy-efficient, new high-quality quality affordable, and accessible housing and will work diligently to preserve the existing viable housing stock in the City of Muskogee, Liberty City, TX, and Dallas/Fort Worth Texas targeting low moderate-income communities, and majority-minority neighborhoods.
Within three years, RCG, LLC intends to expand its program and service area to include other urban Texas cities (Houston, Austin, San Antonio) that have a high propensity for the need for affordable housing and economic disenfranchisement and/or lack of investment in the identified areas.
RCG has applied for its U.S. Department of the Treasury, Community Development Financial Institution (CFDI) certification and is pending approval. Certified CDFIs are eligible to apply for awards through a variety of programs offered by the U.S. Department of the Treasury CDFI Fund. These awards will enable RCG to provide mortgage lending for first-time homebuyers, flexible underwriting for community facilities, and commercial loans for businesses in low-income areas.
“The American dream has eluded the underserved for too long,” said Ford, Chairman of Malibu Holdings. “We believe that our great nation is stronger when families feel a sense of ownership in a community. Byron and his talented team are uniquely experienced and motivated to deliver on this inclusive pursuit of happiness.”
“Having the financial support and domain expertise of Malibu Holdings and other strategic investors will help us execute our vision even more rapidly and broadly – and with the benefit of their experience, perspective, and relationships,” said Byron Reed, RCG founder and Chief Executive Officer.
About RCG, LLC
RCG is a leading developer of affordable housing in urban areas, dedicated to serving underserved markets. The company aims to create opportunities for individuals and families to achieve the American dream of homeownership and community ownership. RCG’s innovative and purpose-driven approach sets us apart in the industry, and we are committed to aggressive expansion and growth where the needs are greatest.
To learn more about RCG, visit https://reedcapitalgrp.com/
About Malibu Holdings
For decades, Malibu Holdings has partnered with exceptional entrepreneurs to build companies where great people, relationships, and quality products and services create a competitive advantage and make a positive difference in the world.
For more information,
visit www.linkedin.com/in/rdford and www.rondford.com/home.
Contact:
LaMya T. Reed, EVP, Chief Marketing & Communications Officer (Research & Development)
R.E.E.D Capital Group, LLC
reedlamya@outlook.com
(817) 687-9294
Media Contact
R.E.E.D Capital Group, LLC reedlamya@outlook.com https://reedcapitalgrp.com/
