Ruben Alonso III joined the Federal Reserve Bank of Kansas City’s Board of Directors in 2021. He previously served on the Community Development Advisory Council.
Mr. Alonso is chief executive officer of AltCap, based in Kansas City, Missouri. In this role, he is responsible for the overall administration, management, ongoing growth and development, and strategic direction of the organization. Under Mr. Alonso’s leadership, AltCap has grown from a community development entity specializing in New Markets Tax Credit (NMTC) facilitated financing, to a high performing, impact driven national community development financial institution (CDFI) and Small Business Administration (SBA) microloan intermediary providing alternative capital to communities and small businesses..
Since 2008, Mr. Alonso has led AltCap’s participation in the NMTC Program, helping the organization secure $213 million in allocation from the CDFI Fund which has resulted in over $250 million in impact investments in Kansas City since 2010. These investments range from a LEED Platinum manufacturing facility to a repurposed church which is now home to a social services nonprofit. After AltCap became certified as a CDFI in 2015 and SBA microlender in 2017, Mr. Alonso led the development of its small business and microloan products, which have provided nearly $30 million in financing to entrepreneurs and small businesses underserved and overlooked by traditional financial institutions. In 2020 and 2021, Mr. Alonso led a civic and corporate capital raising effort to create a small business relief and recovery loan fund as well as stand up a Paycheck Protection Program loan operation which combined provided over $13 million in critical financing to small businesses impacted by the economic disruption caused by COVID-19. Mr. Alonso continues to lead AltCap's growth, having reached over $30 million in assets (nearly $200 million offbalance sheet) in 2021 and has expanded its geographic footprint to include Missouri, Kansas, Texas (Houston) and California (Los Angeles County).
In addition to his role at AltCap, Mr. Alonso sits on the board of directors of equity2, AltCap's impact investment affiliate.. Mr. Alonso serves on the board of directors of the Community Capital Fund, and Midtown KC Now. He also is a volunteer reader for Lead to Read KC. Mr. Alonso is an adjunct professor at University of Missouri-Kansas City’s Department of Architecture, Urban Planning and Design where he teaches a course in urban redevelopment.
Mr. Alonso was a U.S. Peace Corps volunteer in Slovakia where he supported a microlending and business development non-governmental organization, taught English at a local secondary school and helped found a local boxing club for Romani youth. He holds a Bachelor of Business Administration in accounting from the University of Miami and a Master of Public Policy from the University of Southern California.
Learn more about Mr. Alonso in TEN Magazine.