AltCap and Cummins Inc. partner to empower Black-owned businesses in underserved communities
Downtown skyline of Dallas, Texas.
AltCap, a mission-driven small business lender, is proud to share a new partnership with Cummins Inc. to support Black-owned businesses in underserved communities.
This strategic investment is part of the Cummins Advocating for Racial Equity (CARE) economic empowerment initiative aimed at fostering economic growth for Black entrepreneurs in low-to-moderate income areas, particularly in Dallas, Texas.
Through the partnership, AltCap will be able to fund more Black-owned businesses that need capital to navigate economic challenges, expand operations, and create jobs in their communities. Additionally, this funding will support technical assistance and origination fees, ensuring that businesses receive the necessary support to succeed.
“At AltCap, we believe in the power of entrepreneurship to build wealth and strengthen communities,” said Shaundra Jacobs, AltCap Texas Market President. “The partnership with Cummins allows us to provide much-needed financial support and resources to Black entrepreneurs, helping them overcome barriers and grow their businesses.”
Through this agreement, AltCap will provide loans ranging from $5,000 to $125,000 to Black-owned businesses in the Dallas-Fort Worth area.
Cummins’ investment aligns with AltCap’s mission and with its broader CARE initiative, which aims to dismantle systemic barriers to racial equity through economic empowerment. This partnership is an example of how corporations and Community Development Financial Institutions can work together to create meaningful impact in historically underserved communities.
“Dallas CARE empowers small Black-owned businesses to drive economic growth and enhance sustainability,” said Denise Allen, Dallas CARE City Leader. “Cummins is dedicated to supporting the most underserved and underrepresented areas of the city, striving to improve people’s lives.”
This initiative reflects both organizations’ commitment to fostering inclusive economic development and creating a lasting impact on minority-owned businesses. If you’re interested in learning more, please reach out to Shaundra Jacobs, AltCap Texas Market President, at sjacobs@altcap.org.
ABOUT CUMMINS
Cummins Inc., a global power solutions leader, is comprised of five business segments – Components, Engine, Distribution, Power Systems, and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy – the company’s commitment to sustainability and helping its customers successfully navigate the energy transition with its broad portfolio of products. Cummins has approximately 76,500 employees and earned $3.9 billion on sales of $34.1 billion in 2024. See how Cummins is leading the world toward a future of smarter, cleaner power at www.cummins.com.
ABOUT ALTCAP
AltCap’s mission is to empower underserved entrepreneurs by providing accessible capital to pursue their dreams and help our communities thrive. Founded in 2005, AltCap is a critical source of alternative financing for communities and entrepreneurs who fall outside the financial mainstream. To date, AltCap has deployed nearly $300 million in capital, financing small businesses and real estate development projects that were overlooked by traditional financial institutions.
