Resources for local small businesses
Small businesses are the backbone of the economy in our region. Through partnerships with organizations like Northern Initiatives and Michigan State University Federal Credit Union, we help provide resources and support to businesses getting started, expanding, or dealing with the impact of the pandemic.
Loans are available through two different programs to small businesses headquartered in Newaygo County and in Lake, Mecosta, and Osceola counties, which are served by our three affiliate foundations.
Northern Initiatives loan program
We expanded an existing partnership with Northern Initiatives—a nonprofit Community Development Financial Institution (CDFI)—that created a regional revolving loan fund to serve businesses who may not qualify for traditional funding. Loan recipients also have access to a variety of trainings, tools, coaching, and other supports. Interested business can apply directly through Northern Initiatives.
MSUFCU loan program
Through a partnership with Michigan State University Federal Credit Union, loans of up to $50,000 are available at a low interest rate for small businesses. To inquire about eligibility, start the application process, or get more information, contact Dan Wheat at 231.924.7616.
For-profit businesses and nonprofit organizations with 50 or fewer full-time employees are eligible to apply. The business must be headquartered in Lake, Mecosta, Newaygo, or Osceola county.
Loans are available to business start-ups and expansions as well as to help with pandemic-related needs.