2007 ADC Annual Report
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.