Ruben Alonso III
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 president of AltCap 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 community development financial institution (CDFI) and Small Business Administration (SBA) microloan intermediary providing alternative capital to communities and small businesses throughout the Kansas City metro.
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 $20 million in financing to entrepreneurs and small businesses underserved and overlooked by traditional financial institutions. Mr. Alonso continues to lead AltCap's growth, having reached over $20 million in assets (nearly $200 million offbalance sheet) in 2020 and has expanded its geographic footprint to the entire Kansas City metro. Over the past year, 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 has provided over $5 million in critical financing to small businesses impacted by the economic disruption caused by COVID-19.
In addition to his role at AltCap, Mr. Alonso recently launched and sits on the board of directors of equity2, AltCap's impact investment affiliate that is initially focused on offering equity financing to job-creating businesses and catalytic real estate development projects in Opportunity Zones in Missouri and Kansas. Mr. Alonso is a member of the Community Advisory Committee for the Illinois Facilities Fund, the largest nonprofit CDFI in the Midwest, serves on the board of directors of the Community Capital Fund, Saint Luke’s Hospital, 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.