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  • Neighborhood Development Center Lends Hand to Broke Entrepreneurs

    May 20, 2014 by

    On May 15,  The National Journal highlighted the work of National Development Center (NDC), a nonprofit  community development corporation headquartered in St. Paul, Minnesota that works in low-income, minority and immigrant communities around the Twin Cities. Established in 1993, NDC ‘s work hinges on the belief that residents, small businesses and neighborhood groups in all communities have the talent, energy, and ideas to develop and revitalize their own communities–and they give they lend them a hand to help make their entrepreneurial dreams a reality.

    Haiyen and Neeson Vang at the store that NDC helped make a reality by providing financing and training on starting a small business.

    Haiyen and Neeson Vang at the store that NDC helped make a reality by providing financing and training on starting a small business.

    In “The Nonprofit That Gives Broke Entrepreneurs a Chance,” National Journal correspondent, Sophie Quinton, recounts the experience of Haiyen Vang and her husband, Neeson, who wanted to open a clothing store, but lacked the funds to do so. That’s where NDC comes in. 

    “At age 22, they were GED-holders with one Wal-Mart job between them, a toddler at home, and a baby on the way. They had bad credit, and were barely making payments on an asbestos-ridden house on the north side of Minneapolis.

    “There was no way they would have qualified for a small-business loan from a major bank. But they found a partner in the Neighborhood Development Center, a nonprofit that has been taking risks on low-wealth entrepreneurs in the Twin Cities since 1993. Through entrepreneurship training, small-business loans, and real-estate projects, NDC helps locals create jobs for themselves and others—and revitalize their own neighborhoods.

    “NDC just saw a potential,” Haiyen Vang says. “Even though we had bad credit, we were young, they still gave us a chance.” Ten years after enrolling in an NDC entrepreneurship course, she and her husband own a chain of six discount clothing stores, employ about 26 people, and are planning to franchise nationally. The Clearance Rack is one of about 500 NDC-assisted businesses currently operating in the Twin Cities area.”

    Read the rest of the National Journal story…

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