Two Kansas City economic development agencies have created a loan fund to help minority- and women-owned contractors pursue public and private work they otherwise might not be able to bid on because of cash-flow limitations.
With initial funding set at $500,000, the Diversified Contractors Growth Fund of Kansas City is being administered by Port KC and AltCap. The funds will come from the organizations’ existing capital.
“This is a partnership that formed after both organizations recognized the need to level the playing field and open doors for minority- and women-owned businesses that continually face challenges accessing traditional financing sources,” the organizations said in a release. Click here to continue.