AltCap Relief Fund Impact Report for 2021
Together, we made a difference.
After fully pivoting operations to focus on small businesses relief in March 2020, AltCap has deployed more than $13 million in relief financing to 578 Missouri and Kansas small businesses. Relief financing, including the KC Region Small Business Relief + Recovery Loan Fund ($5,040,302) and the Paycheck Protection Program (PPP) ($7,969,829), was distributed to small businesses hit hardest by the economic effects of the COVID-19 pandemic.
AltCap’s relief efforts, supported by community, civic, and private partnerships, have been the most significant, local initiative to deploy capital to small businesses. At an average loan amount of $22,508, the entrepreneurs who received this relief financing represent more than 38 counties and 16 different industries and have retained over 2,163 jobs.
With 83% of small business borrowers anticipating equal or increased revenue in 2022, the impact of this capital is considerable, but more work is needed to sustainably address the needs of the small businesses overlooked by mainstream financial institutions—AltCap and our partners are committed to addressing this need.
The KC Region Small Business Relief + Recovery Loan Fund helped bridge the gap for small businesses that needed immediate and flexible support during the COVID-19 pandemic. This was the first and most significant local, small business relief effort in the greater Kansas City region, successfully deploying $5,040,302 to more than 178 businesses.
Learn more about the impact of the KC Region Small Business Relief + Recovery Loan Fund.
The Payment Protection Program (PPP) provided forgivable loans to help small businesses keep their doors open. Through a partnership with PNC Bank, AltCap increased access to relief funding for underserved entrepreneurs who needed affordable capital to survive the pandemic. Our team deployed $7,969,829 in PPP loans to 400 small businesses in Kansas and Missouri.
