Client: Isaac Collins, owner of Yogurtini
Client Location: Kansas City, MO
CDFI Service Area: KS, MO
Financing, with support from the Grow with Google Small Business Fund
Isaac Collins was on the path toward steady growth and was ready to pay off the second location of his self-serve frozen yogurt franchise, Yogurtini, when the COVID-19 pandemic hit. When his business took a hit due to mandatory shutdowns of nonessential businesses and stay-at-home orders, he turned to AltCap. Isaac’s friend recommended he apply for AltCap’s KC Region Small Business Relief + Recovery Loan Fund, which served as the first glimpse of hope for many Kansas City small businesses before the government launched the Paycheck Protection Program (PPP).
The support Isaac received from AltCap allowed him to keep his bills paid and hold on to his team as they worked to find the best methods to serve their customers and reopen safely. He was also able to expand to a third location with systems and processes in place to keep everyone safe. Since the launch of the Relief and Recovery Loan, supported in part by the Grow with Google Small Business Fund, AltCap has deployed more than $4.2 million in relief loans to local small businesses, with 45 percent of funds going to minority-owned businesses and 48 percent to women-owned businesses.
“To get this money from a local Kansas City organization really means a lot. It’s a testament to AltCap and the other supporters who contributed to the fund and their efforts to help make this possible,” Isaac shared.