AltCap Launches Two New Loan Funds for Construction Owners and Creatives

This month AltCap is launching its newest targeted loan funds designed to support small businesses in the construction and creative industries.

The first, Diversified Contractors Growth Fund (DCGF), was created in partnership with PortKC to increase access to capital for minority- and women-owned enterprises (MBE/WBE) in the construction industry. With an initial capitalization of $500,000, AltCap and PortKC anticipate making loans to MBE/WBE contractors that are in need of working capital or equipment financing to enable them to perform public or private contract work.

AltCap is also launching "ArtCap", a targeted microloan fund for artists and small businesses in the creative industries. "ArtCap" was designed in partnership with the City of Kansas City, Missouri's Office of Culture and Creative Services and support from the Economic Development Corporation of Kansas City (EDCKC) and Artist Inc.

In addition to providing access to creative and flexible capital solutions for musicians to graphic designers, "ArtCap" will also provide one-on-one arts business development assistance. Both established businesses as well as artists who are looking to begin commercializing their work will have access to various levels of technical assistance resources and mentoring opportunities.     

Take action

To learn more about the DCGF and "ArtCap" contact AltCap's Director of Lending, Carmen Lopez, at 816-216-1851, ext. 2 or by email at carmen@alt-cap.org.  You may also visit AltCap's website at www.alt-cap.org.