African Economic Development Solutions
African Economic Development Solutions (AEDS) builds wealth within African immigrant communities through economic development activities. AEDS works throughout the Twin Cities metropolitan area to create wealth, lift immigrant communities out of poverty, and contribute to and benefit from the region’s vibrant economy. AEDS’ extensive cross-cultural intelligence and technical expertise allows it to unleash the power of entrepreneurship within the communities they serve. We provide a business development training program, a 12 week training, culturally specific technical assistance, lending, home ownership, financial capability, and creative place making (using art and culture as catalyst for economic development strategy).
Little Africa is a business, arts, and cultural business district that utilizes creative place making, arts, and culture as a tool for economic development. Little Africa is a cultural business district in the St. Paul Hamline neighborhood to highlight and brand the unique African culture. There are three pillars of creative place making: Little African annual festival, African parade, and African leadership development.
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Mission
Our mission is to build wealth with African immigrants in Minnesota. The programs we provide include business development, technical assistance, lending, home ownership, and creative place-making programs.
Storytelling
Beko Tufa, an African immigrant originally from Ethiopia and the owner of Dilla Ethiopian restaurant located in Minneapolis, came to AEDS in April, 2012, for help to start her restaurant after exhausting her resources. AEDS helped her to start the restaurant and today she is one of the successful businesses in Minnesota.
Tsegereda Cherinat came to AEDS with a dream to start her restaurant in 2016. In 2017, AEDS helped her with technical assistance and a loan, and now, she is not only the owner of the business, but she also owns the building.
Type of Organization
- Community Economic Development Organization
- Lending Organization
Locations Served
- Twin Cities Metro Area
- Minnesota
Key Programs and Initiatives
- Little Africa
- Business Development Training
- Financial Literacy Workshops
- Small Business Consulting
- Homeownership Workshop
- Loan Access
Types of Offerings
- Financing
- Capital
- Entrepreneurial Training
- Workshops
- Matchmaking/networking opportunities
- 1 to 1 business advising
- Mentoring/coaching
- Cohort Training Programs
- Certification assistance
Program Delivery
- In Person
- Virtual
Members of the Black Community Served
- Immigrants
Locations of Members of the Black Community Served
- Low-income areas
- Low to moderate income areas
- Suburban areas
- Urban areas
Targeted Entrepreneur Segments
- Business Services
- Wholesale & Retail Trade
- Accommodation & Food Services
- Transportation & Logistics
- Health Care & Social Services
- Printing and Embroidery
Business Stage
- Start Up : a young business that is just beginning to develop and determine a market fit.
- Stay Up : a business that has determined its market fit, but its product/service has not been validated nor has it achieved sustainability.
- Scale Up : a business that already validated its product in a market and has proven sustainable.
Cost of Programs
- Based on applicant’s income