At a glance
From its website, read 2 Nov 2026African Development Center is a loan fund based in Minneapolis, Minnesota. Its website describes microloans, SBA-backed loans and small-business loans. Where it lends: Small and medium-sized businesses in the Twin Cities metro, St. Cloud, Rochester, Owatonna, Faribault, Mankato, Willmar and Marshall.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Website | www.adcminnesota.org |
|---|---|
| Office (official list) | 1931 South 5th Street, Minneapolis, MN 55454 |
What their website says about applying
Download and fill out the forms below. Then SAVE the file and email it back to your loan officer. Later, when the forms are complete, you will sign them with your ADC loan officer.
sourceOnce you’ve clicked the appropriate forms and downloaded them to your computer, you can open the file and type in as much of the requested information as possible. Then SAVE the file and email it back to your advisor.
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 17 Sep 2013 |
| RSSD ID | — (none listed) |
| Address | 1931 South 5th Street, Minneapolis, MN 55454 Directions (Google Maps) |
| Website | www.adcminnesota.org |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: medium. Loan forms must be downloaded and emailed back, so no online application was found; home-buying financing terms were not stated. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Microloans | up to $50,000 | For startups and existing small businesses, loans up to $50,000. | source |
| SBA-backed loans (7(a)/504/Community Advantage) | — | ADC is an approved SBA Community Advantage (CA) lender. | source |
| Small-business loans | up to $350,000 | For Startups and existing businesses, loans up to $350,000. | source |
Loan sizes
Service area
Small and medium-sized businesses in the Twin Cities metro, St. Cloud, Rochester, Owatonna, Faribault, Mankato, Willmar and Marshall
Loan are available to small and medium-sized businesses located in the Twin Cities metro, St. Cloud, Rochester, Owatonna, Faribault, Mankato, Willmar and Marshall.
source
Counties this matches: Blue Earth County, MN, Kandiyohi County, MN, Lyon County, MN, Nicollet County, MN, Olmsted County, MN, Rice County, MN, Steele County, MN
Borrower focus
- Immigrants
ADC offers services focused on the African immigrant and refugee community in Minnesota.
source
Languages
- No non-English service found on the pages we read.
Online application
No online application link found on the pages we read.
Pages read (7)
- https://www.adcminnesota.org/
- https://www.adcminnesota.org/services-programs/improve-your-credit
- https://www.adcminnesota.org/about/loan-committee
- https://www.adcminnesota.org/about/financial-statements
- https://www.adcminnesota.org/services-programs/own-home
- https://www.adcminnesota.org/about/loan-committee/tim-farrow
- https://www.adcminnesota.org/services-programs/start-business
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What are the smallest and the largest loans you make?
No loan amounts are stated on their website. - What interest rate and fees should I expect on your microloans and SBA-backed loans?
Their website does not state a rate for this. - Do you need collateral, a business plan or a minimum time in business?
Their website does not say what they require. - How long can I take to repay?
No repayment terms are stated on their website. - Can I apply online, or do I need to call or visit?
We found no online application on their website. - Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$6.7 million in 8 awards from the U.S. Treasury's CDFI Fund, 2006–2024 (CDFI Program, Financial Assistance; CDFI Rapid Response Program).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $1,250,000 |
| 2021 | CDFI Program, Financial Assistance | $590,000 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2020 | CDFI Program, Financial Assistance | $865,000 |
| 2018 | CDFI Program, Financial Assistance | $700,000 |
| 2010 | CDFI Program, Financial Assistance | $750,000 |
| 2009 | CDFI Program, Financial Assistance | $600,000 |
| 2006 | CDFI Program, Financial Assistance | $100,000 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Dec 2023| Total assets | $21.7M |
|---|---|
| Total liabilities | $9.5M |
| Net assets | $12.2M |
| Total revenue | $5.2M |
| Notes and loans receivable, net (Part X line 7) | $11.5M |
End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending December 2023 (tax year 2023; EIN 20-0553370, filed as “AFRICAN DEVELOPMENT CENTER”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer
Filings over time
| Fiscal year ending | Total assets | Net assets | Revenue | Notes and loans receivable |
|---|---|---|---|---|
| Dec 2021 (990) | $18.2M | $6.9M | $5.3M | $6.6M |
| Dec 2022 (990) | $17.8M | $8.7M | $4M | $8.4M |
| Dec 2023 (990) | $21.7M | $12.2M | $5.2M | $11.5M |
Total assets grew 20% from Dec 2021 to Dec 2023; notes and loans receivable rose 75%. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| SBA approvals, FY2023–24 → FY2025–26 | 2 → 1 | Rank among the 6 certified CDFIs in Minnesota with SBA approvals in either period: 4 → 5. |
| Total assets, latest IRS Form 990 | $21.7M | Larger than 53% of the 19 other certified loan funds and venture funds in Minnesota with a matched Form 990 (median $20.5M). |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| SBA approvals then vs now | certified CDFIs in Minnesota with SBA approvals FY2023–2026 | 5 | rank 4 → 5 of 6 |
| Form 990 total assets | certified loan and venture funds with a Form 990, in Minnesota | 19 | larger than 53% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered; your rate depends on the loan and on the lender's review. Peer groups and sources: methodology. SBA 7(a) & 504 FOIA data as of 30 Sep 2026. Form 990 figures: IRS annual extracts (see the Form 990 section).
SBA loans approved
SBA data as of 30 Sep 2026The SBA's public loan data lists 9 SBA-backed approvals for African Development Center in fiscal years 2020–2026 (October 2019 to September 2026):
- 9 7(a) loans as the lender: $2.4M in total (gross amount approved), median $250,000
By fiscal year: FY2020 2 · FY2021 2 · FY2022 2 · FY2023 2 · FY2024 0 · FY2025 1 · FY2026 0.
By program
- 7(a) Community Advantage (8, 89%)
- 7(a) standard (1, 11%)
Borrower industries
NAICS sector, 3 or more loans.
- Retail trade (3)
How this lender was matched in the SBA files: SBA lender ID 0483970: same name, state and city (SBA lists “African Development Center”).
Approved is not the same as paid out: an approved loan can be reduced or never drawn. SBA lists the lender each loan is currently assigned to, which can differ after a merger or loan sale. African Development Center may also make loans outside SBA programs, which are not counted here, and SBA Microloans are not in these files.
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data, files as of 30 Sep 2026, downloaded 3 Nov 2026. Our counts, cancelled approvals left out. How we match lenders.
Other certified CDFIs in Minneapolis and Minnesota
- Community Reinvestment Fund, IncLoan fund · Minneapolis, MNSmall-business loansVerified
- First Children's FinanceLoan fund · Minneapolis, MNChild-care facility financing, Small-business loansVerified
- Metropolitan Consortium of Community DevelopersLoan fund · Minneapolis, MNCommercial real estate loans, Credit-builder loans, Small-business loansVerified
- Metropolitan Economic Development AssociationLoan fund · Minneapolis, MNCommercial real estate loans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- Mni Sota FundLoan fund · Minneapolis, MN · Native CDFICredit-builder loans, Personal / consumer loans, Small-business loansVerified
- Propel NonprofitsLoan fund · Minneapolis, MNMicroloans, Nonprofit / community facility loansVerified
- The Sunlight Loan Fund, LLCLoan fund · Minneapolis, MNChild-care facility financingVerified
Work at African Development Center? Link to this page
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