Gene and Patty Hansen first opened Traverse City Guitar Co. “basically in a closet” and needed some money to stock the (tiny) shelves. It was shortly after Gene finished 20 years in the U.S. Air Force, stationed all over the country and abroad, and moved back to their hometown.
Bank after bank told them they wouldn’t do microloans or SBA loans or loans to startups. Happily, they were referred to Northern Initiatives who supported them with SBA microloans,, then used funds from the Michigan CDFI Coalition and the Grand Traverse Regional Community Foundation to help them moved into a building they own, with space to create, repair, sell and buy guitars and, well, any stringed instrument. The new location, hopping even on a blizzardy Monday morning, has lesson rooms and a video studio. The store’s mobile phone plays “Smoke on the Water.”
“Northern Initiatives was there when we needed you the most. Without you, we wouldn’t have been able to get the down payment to purchase the
property. It’s a great option for people in our situation,” said Patty Hansen, co-owner of Traverse City Guitar Co.
“Geno’s the best boss,” said Sean O’Brien, store manager and guitar tech and whatever else needs to be done. “He’s understanding and forgiving, yet stern and strict when he has to be.” The customers agree. “You stand up to your word and I appreciate it,” said Joe, a customer who bought his first guitar the day after he heard “I Wanna Hold Your Hand” on the radio in 1964.
