Advantage Capital completed a small business loan for All-In Recruiting, which is a Las Vegas-based staffing and recruitment agency, The company works in collaboration with businesses to engage employers across the country. It is currently working to provide affordable, tech-savvy and boutique solutions to meet hiring goals and to diversify workforces.
“I am so happy to be doing this work and helping to create a space for traditionally underrepresented populations,” Lauren Anderson, owner of All-In Recruiting, said. “The tech space in particular has large gaps in hiring diverse talent. Currently, African Americans make up as little as 7.4% of people in tech, followed by Hispanics at just 8%. Right now, calls for racial equity are echoing across the country. One way to heed that call is to ensure underrepresented populations have resources working for them.”
All-In Recruiting’s focus on the tech industry places it in a strong market. As unemployment has soared in recent months, the demand from the tech industry for qualified employees remains steady.
“Focusing on the tech industry allows us to zero in on a niche market that continues to see increases in job demand,” Anderson said. “Our attention to diversity enables us to offer our clients a proven way to increase innovation and employee engagement and boost creativity by having access to a variety of perspectives.”
The investment from Advantage Capital, made in connection with the federal New Markets Tax Credit program, will allow All-In Recruiting to purchase new equipment and will provide working capital to hire new employees, increase marketing efforts and continue business expansion.
“This investment is great news for a number of reasons. First, I love to see a company so actively involved in championing an effort to bring diversity to the tech industry,” Assemblywoman Dina Neal (D-NV), said. “This is a much-needed service to help underserved communities break into an excellent field. Secondly, we just renewed the Nevada New Markets Jobs Act last year, which has been very successful in supporting and growing businesses like All-In Recruiting in distressed communities. It’s great to see the federal program working to do the same, bringing additional capital to our state.”
The federal NMTC program was established by Congress in 2000 as a way to increase capital in low-income communities, spur economic growth and create jobs. In 2013, the Nevada State Legislature passed the Nevada New Markets Jobs Act, which was modeled after the federal program in an effort to encourage further capital investment in low-income communities and create new jobs in the state. That program was renewed last year.
“We’re happy to be able to provide All-In with the slow, patient capital that is needed to help it grow,” Leah Hendricks of Advantage Capital said. “We identified Lauren as a top entrepreneur and saw the potential of her business to be a high-growth company that provides access to critical jobs in a field with great opportunity. We are thrilled to help make the connection with the NMTC program to bring extra investment dollars to the state and grow her business.”
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital.