The Russell
Before his restaurant’s debut, Amante Domingo’s expansion was threatened by predatory loans. There’s nothing quite like the crackling warmth at the heart of a campsite. “I just love what the…
Small Business Loans
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.
“But the best part of the process is that they really cared about the local business. It wasn’t just about (profit and loss statements) and financials… They knew the situation I was in, and so where other banks were like, ‘I can’t loan you any more money,’ AltCap was able to figure out the best way to navigate through it.”
Amante Domingo, The Russell
Retail Bins
A vacationing Lee’s Summit, Missouri, woman walks into a store outside Little Rock, Arkansas, and even though it’s August, she leaves with all her Christmas shopping finished — at a…
Cottontale KC
Cottontale KC Thrives, Pays Forward Small Business Support During COVID Like many small business owners before her, Kiffany Bosserman launched Cottontale KC out of her home. That was five years—and…
Start the Small Business Loan 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 Small Business Loans
- We provide entrepreneurs $50,000 to $350,000 in debt capital to launch, operate or grow their business.
- 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.
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 ≤$25K; 2 years for loans >$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 ≤$25K; 2 years for loans >$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.