Ruben Alonso III joined the Federal Reserve Bank of Kansas City's Board of Directors in 2021. He previously served on the External LinkCommunity Development Advisory Council.

Mr. Alonso is the chief executive officer of AltCap, based in Kansas City, Missouri. In this role, he is responsible for the organization's overall administration, management, ongoing growth and development, and strategic direction. 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 and Community Advantage lender 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 $267 million in impact investments in Kansas City since 2010. These investments range from a LEED Platinum manufacturing facility to a repurposed church 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, providing 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, reaching over $30 million in assets (over $100 million off-balance sheet) in 2022. He has expanded its geographic footprint to include Missouri, Kansas, Texas, and California.

Additionally, Mr. Alonso is a board of directors member 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 an adjunct professor at the 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. 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.