When his business took a hit due to mandatory shutdowns of nonessential businesses and stay-at-home orders, he turned to AltCap. Isaac’s friend recommended he apply for AltCap’s KC Region Small Business Relief + Recovery Loan Fund, which served as the first glimpse of hope for many Kansas City small businesses before the government launched the Paycheck Protection Program (PPP).

In an effort to increase that number, G.I.F.T is teaming up with Lead Bank, Alt-Cap, The Black Chamber of Commerce of Greater Kansas City and equity2.

Ten finalists pitched Wednesday at AltCap’s “Closing the Deal” competition, with four businesses taking home cash prizes. AltCap, which presented the event alongside UMB Bank, awarded the biggest check to Nguyen’s Cafe Cà Phê.

PNC Bank provided $5 million in bridge capital to Kansas City-based AltCap, to provide Paycheck Protection Program loans to local, small and minority-owned businesses that have been unable to secure funding from traditional banks.

Nonprofit AltCap helps steer money for recovery to business owners often overlooked for loans.

Understanding common terminology among lending operations is the first step in creating a more inclusive economy. Learn more about the language we use and better understand the issues we aim to solve.