Blanc Champagne Bar
Uncorking Gratitude: Blanc Champagne Bar is Celebrating Everyday Moments Whether sprayed in a victorious locker room, hoisted to toast newlyweds, or swigged on New Year’s Eve, champagne is the drink…
Microloans
AltCap believes that small businesses help create vibrant, thriving communities.
Our alternative approach to financing allows us to support small businesses that other lenders overlook — regardless of their size or industry. We lend flexible, patient capital and tailor financial solutions to meet entrepreneurs where they’re at.
AltCap is a partner rather than a purely profit-driven lender. I didn’t feel like I was just numbers on a piece of paper. I felt like they looked at my business as a whole and supported me.
Jordin Johnson, Blanc Champagne Bar Founder
Stacs on Deck
Tough Chiefs Loss Propels Kansas City Artist to Launch Winning Business The Kansas City Chiefs came up one win short of entering the Super Bowl when they lost by a…
RAW Art Paints
RAW Art Paints: A Business Rooted in Art, Mental Health and Generational Change There’s a lot of meaning packed into the name of Remy Wharry’s business, which sells acrylic paints…
Start the Microloan Process
The Loan Readiness Quiz is required before receiving a loan application. It’s free, takes a few minutes minutes, and is the fastest way to get started.
If you have questions, please reach out to us at info@altcap.org, call (833) 549-2890 or fill out the form below.
Details on AltCap Microloans
-
We provide entrepreneurs with $5,000 to $50,000 in debt capital to launch, operate, or grow their businesses.
-
We offer fixed-interest rate loans.
-
Our rates are based on the prime interest rate set by the Federal Reserve plus 4% to 6%.
-
Loan terms up to 7 years.
-
There is no fee for an early payoff.
Eligible businesses can be from any industry and at any stage of the business life cycle — from start-up to mature.
As a Community Development Financial Institution (CDFI), AltCap focuses its capital deployment to entrepreneurs who have been overlooked by mainstream financial institutions. An AltCap Business Development Officer can help you decide if a loan is right for your business.
Personal Documentation
- Valid photo identification
- Personal tax returns, all schedules (1 year for loans under $25K; 2 years for loans over $25K)
- Personal bank statements (4 months)
- Personal financial statement
- Personal household cash flow calculator
Business Documentation
- Signed loan application, including other guarantors or owners
- Business plan (businesses under 12 months old)
- Financial projections (businesses under 12 months old)
- Profit and loss statements, last year and year-to-date (businesses over 12 months old)
- Balance sheet, last year and year-to-date
- Business debt schedule (indicate not applicable if no business debt)
- Business bank statements (4 months)
Financial Documentation
- Business tax returns, all schedules (1 year for loans under $25K; 2 years for loans over $25K)
- Sources and uses of funds
- Origination fee of 5%
- Monthly $15 servicing fee on all loans to cover administrative costs.
- Other fees may include UCC filings, vehicle lien filings, or title recording fees.
Our interest rates are based on The Federal Reserve, plus 4% – 6%.
The prime rate is the interest rate commercial banks charge their most creditworthy customers. The Federal Reserve sets the federal funds rate which serves as the basis for the prime rate, which is the starting point for other interest rates.
Although the Federal Reserve has no direct role in setting the prime rate, many banks choose to set their prime rates based partly on the target level of the federal funds rate, which is the rate that banks charge each other for short-term loans.
Si necesita un préstamo para pequeñas empresas y necesita ayuda en español, comuníquese con Karina Lopez al (833) 549-2890 o karina@altcap.org.