Data That We Track, May 2018

How Our Target Area Fared

As one would expect, seasonality begins its run in May in earnest, with the rural communities of Michigan all seeing drops in jobless rates. The challenge of finding and maintaining skilled workers is significant everywhere that you look.

View the Latest Data Sheet (Adobe PDF File).

How Northern Initiatives Fared

May was a record month for our lending portfolio, we closed 12 loans. During the first five months of 2018, we have had two months that were our all-time bests, and one that tied our best. Lately, we have been buzzing about excitement over our involvement with new initiative unfolding in Battle Creek. The W. K. Kellogg Foundation and other partners that include Battle Creek Unlimited, the Kellogg Corporation, and the Miller Foundation have put together a loan fund that NI will be operating. Partnering with this place based initiative is quite the opportunity. We hope to introduce two new staff people next month who will be working in Battle Creek.

Monthly Musings from President, Dennis West

Northern Initiatives has now made 300 loans in Marquette County. We believe the fruition of Marquette’s successes is a result of pairing a wide variety of competent partners with an entrepreneurial culture. We respond to what a community offers when it has an entrepreneurial spirit, Northern Initiatives is a great fit.

Marquette has a very strong entrepreneurial infrastructure with institutions that support the development of ideas. It has bankers who associated strongly with their community and want to see customers succeed, along with accountants, lawyers, and insurance supports that play both a role in transactions, but are also trusted, counselors. Marquette also has Northern Michigan University, helping build the market and bringing ideas into the community, and a desire for many to stay here. The density of locally owned small businesses, willing to share information and ideas with one another truly makes Marquette special.

Finally, it’s what these community businesses offer; local, fresh, natural and authentic products and services that must be valued in order to have a market.

Featured Customer: Terroir Wood Studio

View the Full Customer Story.

Loans Closed in June

Support Northern Initiatives

Northern Initiatives wishes to thank our funders, investors and donors for their continued support. Northern Initiatives provides money and know how to start-ups and growing businesses. We invite you to join us to help more businesses start and grow. Please consider giving a donation today.