Kauffman Foundation gives $5.3M to AltCap to help address 'pervasive lack of access to capital' in KC

One of Kansas City's most successful and important local lenders during the height of the Covid-19 pandemic is receiving a $5.3 million booster from the Ewing Marion Kauffman Foundation.

According to a Monday release, the $3 billion-asset private foundation granted $5 million to AltCap to seed a revolving loan fund that aims to increase access to capital for entrepreneurs in distressed areas of Kansas City and for those whose credit applications have been rejected by conventional lenders. Read more.