2021 was a busy year of change and growth for the African Development Center. We met and adapted to the changes and challenges that 2020 brought and used these to inform our work in 2021 and beyond. ADC has seen growth in 2021, both in our programs and our staff capacity.
Year 2020 was a challenging year for ADC and our clients as it was for the rest of the world. ADC's team workedtirelessly throughout the year to help our clients and the greater small businesses of the communityweather the storm. When the state shut down and small businesses were forced to close or greatly changetheir operations ADC was there to meet their needs...
Read our comprehensive performance report covering 2012 to 2014
In 2007, ADC really stepped up as a statewide financial services innovator. Our programs gained notice from Hutchinson in central Minnesota to Hamburg, Germany. ADC trained 45 entrepreneurs through business plan workshops and technical assistance. ADC had $352,000 in business development lending, bringing the value of its portfolio to $1.4 million and the total business investment leveraged by ADC to $8.1 million. Also in 2007, 137 families trained for first-time home ownership via ADC’s value-added Home Stretch curriculum. ADC began expanding its services to six Greater Minnesota cities, offering programs and technical assistance to develop culturally-sensitive economic development resources for their growing African populations. The Greater Minnesota cities are Rochester, Mankato, St. Cloud, Willmar, Owatonna, and Marshall.
In 2006, ADC trained 65 entrepreneurs through workshops and technical assistance. ADC also expanded its services to the African immigrant communities in East St. Paul. ADC became a partner in the Midtown Global Market, the largest public market in Minnesota. Also in 2006, ADC trained 102 families via our Homestretch curriculum, with value-added financial literacy training. Thirty percent of these families have purchased a home, more than doubling the national Homestretch average of 14 percent.