AltCap Partners with Cherokee Nation to Expand Access to Capital for Cherokee-Owned Businesses
AltCap, an impact-focused small business lender, is proud to partner with the Cherokee Nation to expand financing opportunities for Cherokee-owned businesses across Kansas and Missouri.
This collaboration will enable a 1:1 match on loan capital between AltCap and the Cherokee Nation, significantly increasing the capital available to support Cherokee entrepreneurs in both states.
This partnership is an extension of AltCap’s mission to empower underserved entrepreneurs with access to capital, helping them to pursue their dreams and build stronger, more vibrant communities.
“At AltCap, we’re committed to expanding access to capital for all entrepreneurs,” said AltCap CEO Ruben Alonso III. “This partnership with the Cherokee Nation is an important way to help more Cherokee-owned businesses in Kansas and Missouri access the financing they need to start or grow their ventures. Together, we’re creating more opportunities for small business owners to succeed and contribute to their communities and the broader economy.”
Cherokee-owned businesses in any industry and at any stage of development are eligible to apply for financing under this partnership. Loans will be made available through AltCap and the Cherokee Nation’s State Small Business Credit Initiative (SSBCI) Loan Program.
The SSBCI program helps small businesses access the funding they need by partnering with financial institutions to share risk and reduce the amount of owner equity typically required to obtain financing.
Eligible organizations include LLCs, C-corporations, S-corporations, sole proprietors, independent contractors, cooperatives, Tribal enterprises, nonprofits, or government-owned entities.
Funds may be used for start-up costs, working capital, franchise fees, equipment or inventory purchases, renovation or construction of business space, or acquisition of services or assets.
This partnership reflects a shared commitment by AltCap and the Cherokee Nation to ensure small business owners have the tools, resources, and capital they need.
The State Small Business Credit Initiative (SSBCI) is a nearly $10 billion federal program designed to promote entrepreneurship and support small business growth through loan programs nationwide. SSBCI funding also supports technical assistance programs to help entrepreneurs in underserved communities grow their businesses.
To learn more about AltCap’s financing options, visit AltCap’s website. To begin a loan application, click here. To schedule a call with AltCap, click here.
As a Community Development Financial Institution (CDFI), AltCap is committed to supporting small businesses that are overlooked by traditional lenders. Since 2005, AltCap has deployed over $300 million in capital to more than 1,200 entrepreneurs. Our lending approach is flexible, impact-driven, and tailored to meet the needs of all entrepreneurs.
If you are a Cherokee business owner interested in learning more about this financing opportunity, or if you’re a lender who wants to participate, please contact AltCap here or reach out to the Cherokee Nation SSBCI Program directly.
