Non Profit Spotlight: AltCap

Year founded:

2005

Tell us about the mission of your non-profit:

AltCap is an ally to entrepreneurs. We are a nonprofit Community Development Financial Institution that empowers underserved entrepreneurs with the capital and support they need to grow.

Based in Kansas City, AltCap invests in communities where traditional financing doesn’t always reach. But we’re more than just a business lender. We’re a partner that believes in creating economic opportunity for all people and communities. We work with those left out of the financial mainstream because we know that when entrepreneurs succeed, communities rise with them.

To date, we’ve deployed more than $300 million to small businesses in Kansas and Missouri, Nebraska, Texas, and California through our affiliate, AltCap California. Our nonprofit model allows us to reinvest revenue back into our loan funds, further expanding access to capital for entrepreneurs who may not qualify for traditional financing.

We offer a variety of loan products, including microloans and specialty programs like ARTcap, which supports artists and creative entrepreneurs. Beyond capital, our Business Support Services program provides business coaching, workshops and one on-one support to help entrepreneurs grow.

What's a recent success story or milestone you're proud of?

Over the last year and a half, AltCap has dedicated significant resources to revamping our entire loan management system. It has been a long process, and we’ve learned a great deal along the way about how to better live out our mission to empower entrepreneurs and help our communities thrive. Our data, operations, and underwriting teams have worked tirelessly to improve our system to better serve entrepreneurs, and we’re so thankful for their dedication to AltCap’s community impact.

We’re also very proud of the continued growth and impact of the AltCap Your Biz Pitch Competition. This annual event awards more than $40,000 in cash prizes to Kansas City-area small businesses, while also providing business coaching and banking education. It’s a celebration of entrepreneurship, innovation, and community — and another example of how we’re helping area entrepreneurs take their business to the next level.

How can our Chambers best support and be involved with your non-profit?

Connect with us or make connections for us! If you are an entrepreneur in need of capital to launch, operate, or grow a business, we’d love to talk. Or if you know of a small business that needs capital, please make an introduction. We love meeting entrepreneurs and fellow Chamber members at events, over coffee, or in our office in Midtown Kansas City. If you or someone you know is a small business owner in need of financing or guidance, reach out to us!