Abandoned or vacant homes can have a significant blighting effect on neighborhoods. The resulting decrease in property values and frequent increase in illicit activity and crime can lead to further deterioration and disinvestment of the neighborhood. AltCap's KC Home Rehabber Loan Fund is created to support small contractors in helping to revitalize Kansas City neighborhoods negatively impacted by the effects of abandoned or vacant homes.
With more than 5,000 vacant homes and lots in Kansas City, there is a critical need for resources to address this epidemic of abandoned and blighted residential properties afflicting urban core neighborhoods. Cloudy title and lien issues as well as lack of traditional bank financing have been serious impediments to addressing the abandoned home issue. The Kansas City Home Rehabbers Loan Fund was established to address this urgent need and support small contractor home rehabbers who are working to revitalize our neighborhoods.
In partnership with Legal Aid of Western Missouri, AltCap created the KC Home Rehabber Loan Fund to support home rehab projects throughout Kansas City, Missouri's distressed neighborhoods. Legal Aid of Western Missouri will provide title clearing and lien waiver/resolution services for contractors as well as help qualify contractors to pursue financing from AltCap. As a CDFI and experienced small business microlender, AltCap has the expertise to provide small contractors the financing they need to acquire and/or rehab homes.
If you are a small contractor interested in financing for your next home rehab project, first download and review the KC Home Rehabber Loan Fund Interest Packet and complete the enclosed application.
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