Northern Initiatives

 

Northern Initiatives

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How it Works

Northern Initiatives is a community development financial institution (CDFI), a private financial institution that provides loans and business services to small business owners, entrepreneurs, and community organizations that might not qualify for loans from traditional banks for a variety of reasons. Many times, lending is focused on communities often underserved and considered low-income. CDFIs are certified by the Community Development Financial Institution Fund (CDFI Fund) and the U.S. Department of the Treasury, which provides funds to CDFIs through a variety of programs. There is at least one CDFI in each state.*

Business Services Loan Programs
Capital to expand and launch businesses Microloans: $50,000 or less
Market expansion guidance Microloans: $50,000 or less
Counseling for financial and operational aspects of businesses Small Business Administration Loans (SBA):
Less than $250,000
Online marketing services Other small business loans: $50,000–$500,000
eCommerce solutions USDA Business and Industry Loans
Training CDC/504 Loan: Equipment and real estate
Process support for manufacturers CDC/504 Loan: Equipment and real estate

Funding Focuses On

Small business owners, entrepreneurs, and community organizations that enable the people and communities to thrive. Northern Initiatives is an intermediary lender for loans less than $250,000 for the Michigan Good Food Fund.

Funding Limit

Loans range from $1,000–$1 million with varying terms.

Qualifications

Varies by programs and regions.

Financing Geographic Area 

Michigan and Northeast Wisconsin 

* Community Development Financial Institution Fund . (2011, October 11) . Overview of What We Do . Retrieved from cdfifund.gov/Pages/default.aspx 

 

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Tag List
  • crfs funding sources directory,
  • center for regional food systems

Center for Regional Food Systems

Food System Infrastructure, Planning and Policy

Michigan Good Food

Farm to Institution/School

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