A $500,000 investment from the Black Renaissance Fund launched NDC’s Clean Energy Loan Initiative
Since 1993, Neighborhood Development Center (NDC) has operated on a single premise: underinvested neighborhoods are transformed from within, by the entrepreneurs who live in them. That mission now extends to clean energy.
With $500,000 in loan capital from The Alliance’s Black Renaissance Fund (BRF), NDC launched the Clean Energy Loan Program, pairing financing with technical assistance so small business owners across the Twin Cities metro can pursue energy efficiency, electrification, and decarbonization projects.
Access to affordable lending capital became one of the biggest barriers to developing the organization’s Clean Energy Initiative. During the NDC Green Team’s search for resources, BRF’s investment carried a 2% interest rate and interest-only payments for the first 24 months, terms that have become increasingly difficult for CDFIs to secure.
“Flexible and accessible funding, like the Black Renaissance Fund, is vital for CDFIs,” said Renay Dossman, President & CEO of NDC. “Without this kind of investment, our communities could face serious challenges.”
SmartFresh Laundry team standing outside business in Minneapolis, MN.
For the family behind SmartFresh Laundry, the program opened a door. As its first financing recipient, they used the loan to transform their space: high-efficiency washers, modern equipment, new vending machines, and upgraded heating systems that enhance both operational efficiency and improved customer experience.
Recognizing that access to capital is only part of the solution, NDC hosts workshops and partners with Energy Smart to provide free energy assessments that help entrepreneurs better understand available incentives and make informed investment decisions.
A Membership That Extends Beyond Funding
As an Alliance member, NDC has accessed a network of expert consultants that have strengthened its organizational infrastructure. The AERIS team conducted a thorough analysis of NDC’s operational and financial framework, delivering recommendations that are informing the organization’s growth strategy and action plan. The Alliance also facilitated a technology assessment that has proven equally valuable, which identified opportunities to streamline operations, strengthen its technology infrastructure, and enhance the experience it provides to entrepreneurs and community partners.
“Being part of The Alliance network means a lot to our organization,” said Dossman. “It offers invaluable guidance and resources that empower us to enhance our capacity to continue serving underinvested communities in the Twin Cities.”
As an intermediary, The Alliance is helping to build a financial ecosystem where prosperity and generational wealth are within reach for everyone.
“Climate finance represents one of the greatest economic opportunities of our time, and Black entrepreneurs deserve to be part of that future,” said Amber Banks, President & CEO of The Alliance. “By investing in Black-led CDFIs like Neighborhood Development Center, the Black Renaissance Fund is helping ensure that access to clean energy financing creates stronger businesses, healthier neighborhoods, and more equitable economic growth.”
NDC’s next chapter deepens its commitment to entrepreneurs and developers through expanded lending programs and new financial products. The organization is also creating infrastructure for emerging lenders who need support with underwriting and loan servicing.
Anchoring that work is The Ruckus, a new community-driven innovation center in development where entrepreneurs will be able to access capital, technical assistance, and business support for the tech and creative industries.
To learn more about Neighborhood Development Center’s impact and programs, visit https://www.ndc-mn.org/.
