AltCap expands lending throughout Kansas, Missouri, Colorado, Texas
In addition to its Heartland expansion, AltCap creates affiliate to make loans in California
AltCap, a mission-driven small business lender, is expanding its geographic footprint to make capital more accessible for entrepreneurs in Missouri, Kansas, Texas, and Colorado.
This expanded service area allows AltCap to finance more small businesses and community-driven real estate development projects that create more economically-inclusive communities.
Entrepreneurs in these states can access AltCap's range of financing products, including small business loans, microloans, New Markets Tax Credits (NMTC), and business development services that promote economic growth.
Founded in 2008, AltCap is a critical source of alternative debt financing for businesses and entrepreneurs left out of the financial mainstream. Over the last three years, AltCap’s Federal relief efforts allowed us to identify new opportunities to extend our mission to more small businesses.
“AltCap’s expansion has better positioned us for long term growth and success while furthering our impact in communities and creating more accessible financing options for more entrepreneurs,” said AltCap CEO Ruben Alonso III. “We’re excited to broaden our mission of providing fair access to capital for underinvested communities and businesses not adequately served by mainstream financial institutions.”
As the Kansas City-based team has expanded to support an increased loan volume, AltCap’s operations in Texas are being led by Market President Anthony Williams while AltCap’s outreach and lending efforts in Denver, Colorado, will be led by Business Development Officer Ann Mosso. These additions bring decades of financial and business acumen to our team and have already launched lending operations for entrepreneurs throughout their states.
In addition to the service area expansion, AltCap has also helped launch an affiliate organization, AltCap California, to serve entrepreneurs and small businesses in California. The California office is led by CDFI-veteran and Market President David R. Desai Ramirez.
AltCap is a certified Community Development Financial Institution (CDFI) and has more than 15 years of experience in creating high-performing tax credit investment and loan portfolios. To date, we’ve deployed more than $250 million in New Markets Tax Credits and roughly $32 million in small business loans and microloans.
As an ally to underestimated entrepreneurs, AltCap ignites the potential that traditional lenders may overlook with the goal of empowering entrepreneurs throughout our communities and building a more inclusive, vibrant local economy.
