SEEKING BUSINESS FUNDS?
Will your new project result in the creation of jobs?
You may want to consider the competitive rates and great terms with this loan fund.
What is the Community Business Loan Fund?
Designed to encourage and support economic growth and community revitalization efforts, these loan funds (also called Regional Revolving Loan Funds) serve businesess that generally don’t qualify for traditional financing. These loans can support training, working capital, equipment financing, and renovation. To qualify, for every $35,000 loaned out one full time equivalent job must be created.
You may be interested in these funds if:
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- You are a start-up or existing business that might not qualify for traditional financing.
- You want to help support local community development efforts. How? The revolving loan fund is able to grow and provide more money to more businesses as principal and interest are paid back on existing loans. Providing additional businesses with access to funds and encouraging economic growth and community revitalization efforts. That’s prosperity for all!
- Your business is located in one of these communities:
- Iron County
- Ontonagon County
- Spalding Township
- City of Kingsford
- Village of Baraga
- City of Gladstone
- City of Escanaba
- City of Ironwood
- Marquette County
- City of Menominee
- City of Mount Pleasant
- City of Coldwater
- City of Leslie
- City of Sturgis
- Lenawee County
About the MEDC
The Community Business Loan was developed through a partnership with the Michigan Economic Development Corporation, In collaboration with more than 100 economic development partners, the MEDC markets Michigan as the place to do business, assists businesses in their growth strategies, and fosters growth of vibrant communities around the state.
Questions? Contact Chuck Hurst.
(906) 226-1663
A loan from Northern Initiatives is helping create at least 35 jobs in a county with one of the highest unemployment rates in Michigan.
Like any other loan Northern Initiatives offers, every one of these loans comes with complimentary access to a suite of practical trainings and tools that matter most – money, marketing, and management.
About Northern Initiatives
Who are we and how can we help? Northern Initiatives is a Community Development Financial Institution. Our purpose is to provide loans and business services to small business owners and entrepreneurs who create jobs and enable the communities of Michigan and neighboring Wisconsin to thrive.
