The African Development Center (ADC) is among the 180 organizations serving struggling communities that will receive CDFI funding for 2010. ADC will receive a $750,000 financial assistance award to increase lending within the organization’s niche market. The funds will fuel entrepreneurial activity and promote community economic development throughout the state of Minnesota.
“ADC has been named the top small business lender in this City for the last three years. This CDFI designation brings national recognition to this Minneapolis business engine. The City, the Mayor and Council, are honored to stand with ADC as a partner,” said Mike Christenson, director, Community Planning and Economic Development for the Minneapolis.