NEW MARKETS TAX CREDIT
Since 2010 AltCap has provided NMTC facilitated financing for $159.5 million in investments by family-owned small businesses to social service nonprofits to real estate development entities, all in severely distressed, low-income communities throughout Kansas City, Missouri. Our NMTC portfolio includes a LEED Platinum manufacturing facility (the 7th in the nation) to a repurposed church and school.
AltCap uses its NMTC allocation primarily to help finance operating businesses as well as real estate development entities that are making a significant investment in AltCap's designated service area. Job-creating capital investments by a business (e.g. facility expansion or equipment / machinery purchase) or catalytic commercial, industrial, mixed-use, or community-driven development projects representing at least $5 million in investment are eligible for nontraditional, flexible financing through the NMTC Program.
HOME REHABBER LOAN FUND
With more than 5,000 vacant homes and lots in Kansas City, there is an urgent demand for housing rehab funding to improve abandoned and blighted residential properties in the urban core. However, there has been a lack of available capital for home rehabbing projects to help cover the prohibitive costs of contractors, plumbers, electricians and other trades. The Kansas City Home Rehabbers Loan Fund was established to address this need and support home rehabbers who are working to address Kansas City’s blighted housing issues in our neighborhoods.
In partnership with Legal Aid of Western Missouri, AltCap has developed a microloan program to serve home rehabbers in Kansas City, Missouri's distressed neighborhoods.
DIVERSIFIED CONTRACTORS GROWTH FUND
The Diversified Contractors Growth Fund (DCGF) provides short-term debt financing to women- and minority-owned enterprises (WBE/MBE) as well as veteran-owned enterprises that are certified contractors in the commercial construction industry. DCGF loans are intended to increase WBE/MBE competitiveness and financial capacity to bid on and perform public and private contract work they otherwise might not be able to because of cash flow limitations.
Along with funding partner, Port KC, AltCap is proud to support the growth and development of our minority and women contractors. We work with commercial plumbing, roofing firms, electrical contractors, masonry contractors, cement suppliers, window fabricators, fence contractors, landscapers, and others to offer needed capital with flexible terms.
"ARTCAP" MICROLOAN FUND
At AltCap we never want to see funding get in the way of someone pursuing their passion. That's why we created ARTcap, a unique microloan fund to help fuel the passion of musicians, photographers, dancers, jewelers and other artists and creative businesses in Kansas City.
ARTcap microloans are available for amounts up to $50,000 to artists, artisans and makers as well as other established businesses in the creative industries in Kansas City, Missouri.
WORKSHOP IN BUSINESS OPPORTUNITIES
The WIBO 16-Week Workshop: How to Build a Growing Profitable Business is a nationally renowned, peer-to-peer led business training program for business owners ready to launch a business or take their established business to the next level. WIBO offers an opportunity to develop the basic structure for a sustainable business growth and profitability plan, including cornerstone analytical tools that develop and sustain informed financial decision-making.
WIBO is structured to provide a unique peer-to-peer learning environment where volunteer business owners and business subject experts share their expertise and experiences through facilitated discussions and case studies about all aspects of running a successful and profitable business. The cohort will learn about marketing, market research, purchasing, pricing strategies, sales, finance, record-keeping and accounting, human resources, law and other facets of operating a business while interacting with other business owners who share their own experiences, insights, and best practices.