About this programme
AltCap is a Community Development Financial Institution (CDFI) that lends to small businesses that traditional banks often turn down. Its microloan product provides $5,000 to $50,000 in debt capital to launch, operate or grow a business, in any industry and at any stage of the business life cycle, from startup to mature.
As a CDFI, AltCap says it can often work around traditional lending constraints and prioritizes entrepreneurs overlooked by conventional lenders. Collateral is not always required and varies by the type and size of the loan, though offering it can improve loan terms.
AltCap also offers larger products beyond the microloan: small business loans starting at $50,000, revenue-based financing from $100,000, and New Markets Tax Credits financing from $5 million.
How it works
Interest rates are based on the prime interest rate set by the Federal Reserve, plus 4% to 6%.
Repayment terms run up to 7 years, with no fee for paying off the loan early.
A 5% origination fee applies, plus a $15 monthly servicing charge. Additional costs may include UCC filings, vehicle liens, or title recording fees.
Who can apply
Businesses from any industry and at any stage, from startup to mature, can apply.
Startups are accepted in place of historical financial statements, they will be asked for a business plan, financial projections and other documentation.
Applicants with existing loans may still qualify. AltCap's team assesses the business's ability to take on new debt.
There is no stated minimum credit score. Credit is evaluated alongside financials, management ability and growth potential.
How to apply
- Complete AltCap's free Loan Readiness Quiz, which asks for basic contact information, business details (legal registration status, how long you have operated, what documentation you have), financial obligations, ownership structure, credit history, personal tax return availability, and other income sources. It is described as an assessment, not a loan application.
- Based on your quiz answers, AltCap either sends you the loan application link directly, or connects you with its Business Support Services for guidance before you apply.
- Work with an AltCap Business Development Officer to determine fit and complete the formal application.
Documents you’ll typically need
- Personal identification
- Tax returns (1 to 2 years, depending on loan size)
- Bank statements (4 months)
- Business plan and financial projections (for startups)
- Profit and loss statements and balance sheets
- Business tax returns with schedules
Frequently asked
Can a brand-new startup get an AltCap microloan?
Yes. AltCap lends to businesses regardless of industry, size or stage. Startup owners provide a business plan, financial projections and other documentation in place of historical financial statements.
What does the loan cost beyond interest?
A 5% origination fee and a $15 monthly servicing charge, plus any UCC filing, vehicle lien or title recording fees that apply to your loan.
Do I need collateral?
Not always. Collateral requirements vary by the type and size of the loan, though offering collateral can help you get better terms.
Is the Loan Readiness Quiz the actual loan application?
No. It is a short assessment of where you are in your business journey and your loan readiness. Depending on your answers, AltCap either sends you the application link or refers you to its Business Support Services first.
What if I already have another business loan?
You may still qualify. AltCap's team will assess your ability to take on new debt alongside your existing obligations.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.