Business Loans
Looking for a loan to start or grow your small business, but can’t get bank financing? We are ready to help.
We are dedicated to providing you with both the capital and know how you need to grow your business, acquire one, or start one of your own.
As a nonprofit lender, we help entrepreneurs who are unable to get all or part of the capital they need from a bank. Our business loans range from $1,000 to $500,000 and we are flexible around collateral and equity.
We provide small business loans throughout Michigan and bordering Wisconsin.
Complimentary business services to help you grow
We want to maximize your growth opportunities and position you for success. Every one of our loans comes with complimentary access to our business services:
INITIATE
24/7 access to interactive calculators, how-to videos, quick reference guides, and templates.
COACHING SERVICES
We want you to have the resources you need to reach your business goals. Your business coach will support you as you work through the everyday challenges and opportunities specific to your business.
Types of Loans
Whether getting a business off the ground or growing to the next level, Northern Initiatives' numerous lending programs and robust business service offerings enable business owners and entrepreneurs to make dreams come true.
MICROLOANS
$1,000 - $50,000
UP
TO
10
YEAR
TERM
AT A
FIXED
RATE
Great for starting a new business, equipment purchases, or working capital.
BUSINESS LOANS
$50,001 - $500,000
UP
TO
10
YEAR
TERM
AT A
FIXED
RATE
Great for starting a new business, buying an existing business, or expanding your business.
HEALTHY FOOD ACCESS
$2,500 - $300,000
UP
TO
7
YEAR
TERM
AT A
FIXED
RATE
Great for new and existing healthy food production, distribution, processing, and retail projects that will increase fresh food in underserved communities.
SMALL BUSINESS LOANS
$25,000 - $250,000
UP
TO
25
YEAR
TERM
AT A
FIXED OR
VARIABLE
RATE
SBA Community Advantage 7A
Comes with partial guarantee by the US SBA
Great for starting a new business, buying existing business, expanding your business or equipment purchases.
CONTRACT / PURCHASE
ORDER FINANCING
$5,000 - $250,000
UP
TO
10
YEAR
TERM
AT A
FIXED
RATE
Great for supplementing cash flow or expanding your business.
APPLICATION RESOURCES
Application ChecklistPersonal Financial Statement (Adobe PDF)
Cash Flow Template (Microsoft Excel)
BUSINESS PLANNING RESOURCES
How to Prepare for a Small Business Loan RequestBusiness Plan Template
Startup Financial Projections Template
"There is help available, and from good people. Northern Initiatives brought technical, financial, and marketing tools to my business. I intend to share what I have learned with other small businesses in Battle Creek. We need to support each other."
Javier Fortoso
TORTI TACO
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