New Markets Tax Credits Continue to Drive High-Impact Investments in Economically Distressed Communities

(Kansas City) June 19, 2019 - Thanks in part to the New Markets Tax Credit (NMTC) program, Kansas City will see the development of a 44,000 square foot manufacturing and research facility for the all-natural probiotic and biochemical producer, Probiotic Holdings. Last week, the Kansas City-based company announced the closing of a $6 million investment made possible with the support of AltCap, UMB Bank, and U.S. Bank.

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Megan CrookComment
AltCap Launches Kansas City's First Character-based Microloan

AltCap is pleased to release the Kansas City Growth Loan, the first character-based microloan available in the Kansas City metro. Made possible through a partnership between AltCap and Access Ventures, a Louisville-based private operating foundation, the Kansas City Growth Loan provides an alternative to standard lending for startups and other small business owners, who have had difficulty accessing affordable capital with reasonable terms. 

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Megan CrookComment
Investing in affordable housing is a boon to our society

It’s a familiar story in the urban core of Kansas City: First, one house falls into disrepair because of death or unemployment, while another is abandoned because clear title to the property can’t be obtained. The weeds grow tall, porches collapse, abandoned cars clutter the street and soon the block — then the neighborhood — is in full-fledged decline. …

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Megan CrookComment