The Urban League of Metropolitan Saint Louis, Inc. and The National Development Council (NDC) got down to business on Monday, August 1, 2002 with the opening the NDC Entrepreneurship Center at the Urban League’s Regional Headquarters at 1408 North Kingshighway. The NDC’s annual board retreat was also held in St Louis August 1– 3.
NDC contributed $100,000 to support the new center. However, raising additional loan and operating capital from the local lending community to support minority entrepreneurs is critical.
NDC and the Urban League are partnering on several initiatives designed to support minority entrepreneurs and real estate developers in the St. Louis Metropolitan Area.
Several focus on building local capacity and increasing investment in North St. Louis communities. The NDC Center will provide a wide range of services and resources for minority businesses and aspiring entrepreneurs, including training, counseling, mentoring, and access to capital to support minority business start-ups and to facilitate the growth and sustainability of existing BIPOC businesses.
“We are extremely proud to partner with NDC on this critical initiative,” said Michael McMillan, Urban League president.
“NDC is an organization with a stellar reputation and long history of advancing equity by raising and directing capital to communities of color; having them as a partner will absolutely allow us to quickly scale up and begin training the next generation of minority entrepreneurs.”
Founded in 1969, the NDC’s first mission was addressing economic and social imbalances in society by increasing the flow of capital to Black, Indigenous, and People of Color [BIPOC] and low-income communities throughout the country.
For more than 50 years, NDC has helped localities and communities by providing capital for small business lending, affordable housing finance, and job creation.
Capital can be used to support development and preservation of affordable housing, creates jobs through small business lending, advances livable communities with social infrastructure investment, and builds capacity with firsthand technical assistance to local governments.
“Our success in identifying and strengthening minority and small businesses and realizing those businesses’ potential to benefit their community and inspire generations of entrepreneurs, depends on effective partnerships with local organizations,” said NDC President Daniel Marsh, III.
“The Urban League brand is very strong in St. Louis, so we know we have a trusted partner with a history of excellence in service delivery.”
NDC contributed $100,000 to support the new center. However, raising additional loan and operating capital from the local lending community to support minority entrepreneurs is critical.
Joseph Gray, NDC senior director, reached out to local lenders and area philanthropists to “keep the funding momentum going.”
“The response that we have received from minority entrepreneurs and developers has been amazing,” he said.
“Local small business owners and community residents with aspirations to become entrepreneurs are the key to the revitalization of North St. Louis. The Entrepreneurship Center can play a major role in providing the training, support, and financial assistance necessary to build a solid foundation to support the regeneration of historic minority commercial corridors and surrounding residential neighborhoods.”
