The Community Development Financial Institutions Fund (CDFI Fund) awarded Altcap a $2,585,181 project grant under the CDFI Emergency Relief Program (CDFI ERP, CFDA #21.033) on April 10, 2023. The grant will support Altcap's efforts to expand lending, grant making, and investment activities through December 31, 2028 in low- and moderate-income communities disproportionately impacted by the COVID-19 pandemic. As a certified Community Development Financial Institution, Altcap will leverage the grant funding to deliver targeted financial products and services, including loans and grants, to underserved borrowers and small businesses in the Kansas City region that lack access to capital. No subawards or subpartners are indicated. The CDFI ERP aims to support CDFIs as they respond to economic impacts of the pandemic by enabling grantees to build capacity, acquire technology, and provide financial assistance to communities in need.
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