Dear Friends and Partners,

2025 was a fascinating year marked by complexity — federal budget shifts, agency closures, and widespread uncertainty. In the face of those challenges, our dedicated staff came together with focus and urgency. Because of their commitment, we deployed more than $6 million in capital to Michigan entrepreneurs, helping them create and retain jobs while strengthening the communities they call home. Beyond lending, we worked side by side with more than 300 business owners, providing hands-on coaching through site visits, regular check-ins, and deep engagement with our Initiate platform. Our net assets have grown 78% since 2020 and 2025 marked the first year with more than $50 million in total assets.

We also elevated the voices of our entrepreneurs beyond their storefronts. By meeting with state and federal lawmakers, we reaffirmed our mission and demonstrated the powerful role CDFIs play across their districts. We gathered in our customers’ businesses, toured manufacturing floors, and showed up in Washington, D.C., and Lansing to share real-world impact.

In a year defined by uncertainty, Northern Initiatives delivered stability, opportunity, and results — and we are proud of what we accomplished together.