Community Foundation Partners with Northern Initiatives on Small Business Loans
Fremont Area Community Foundation is expanding a partnership with Northern Initiatives to provide loans and technical assistance for small businesses in Newaygo, Lake, Mecosta, and Osceola counties. The expansion allows the Community Foundation to support local businesses in the areas served by their three affiliate foundations as well as in Newaygo County.
Loans are available to entrepreneurs and businesses looking to start or grow their business in the four-county region. Loan recipients also have access to a variety of trainings, tools, coaching, and other supports. They can work one-on-one with a coach as well as access Northern Initiative’s online business resource portal, Initiate.
“Local small businesses are the backbone of the economy in our region,” said Shelly Kasprzycki, Community Foundation president and CEO. “We have been proud to partner with Northern Initiatives in Newaygo County over the last several years and are excited to support this expansion of their services here and in Lake, Mecosta, and Osceola counties.”
“We help entrepreneurs who have been overlooked or denied by other financial institutions and give them the support they need to start and grow their businesses,” said Elissa Sangalli, president of Northern Initiatives. “Those businesses go on to support families, neighborhoods, and communities.”
The Community Foundation has partnered with Northern Initiatives—a nonprofit Community Development Financial Institution (CDFI)—since 2016 to create a regional revolving loan fund to serve businesses who may not quality for traditional funding. In 2021, Northern Initiatives facilitated more than $475,000 in loans to Newaygo County businesses.
Interested businesses can apply directly through Northern Initiatives. Learn more at northerninitiatives.org.