BUSINESS FINANCE

Supporting entrepreneurship, job creation and retention, and community economic vitality has been a cornerstone of the Northland Foundation's mission. Since 1988, the Business Finance Program has provided $45 million in flexible financing to new or expanding businesses, helped leverage more than $250 million in other investments, and assisted in creating or retaining 6,500 jobs in northeastern Minnesota and Douglas County, Wisconsin.  As an active member of a strong, well-connected network of economic development entities, both public and private, the Northland Foundation works closely with many valued partners to help ensure a thriving future for this region. A summary of the 2010-11 fiscal year Business Finance Program activity follows.

Loan Summary for the Year Ending June 30, 2011
Total Loans and Guarantees	21
Borrowers Assisted	19
Total Dollars Leveraged	$8,478,691
Jobs Created & Maintained	409
Total Business Financing Activity	$3,113,000

Financing Projects

Northern Lights Building Company, Warba
Big Sandy Lodge & Resort, Inc., McGregor
Wide Open Company, Inc., Grand Rapids
Landsmenn Energy Service Partners, LLC, Duluth
Como Lube & Supplies, Inc., Duluth
B & B Brothers, Inc., Duluth
AG Real Estate, LLC, Duluth
MNSTAR Technologies, Inc., Grand Rapids
Northshore Manufacturing, Inc., Two Harbors
Twin Ports Testing, Inc., Superior
WR Whiteside Equipment, Inc., Hibbing
Points North Consulting, Inc., Duluth
HorizonHCS, Duluth
Gobel Aggregate, Inc., Duluth
A.G. Thompson House, Duluth
Superior Trading Properties, LLC, Duluth
Hovland, Inc., Hermantown
Shel/Don Group, Inc., Duluth
Van Technologies, Inc., Duluth

Technical Advisory Committee

Michael Colclough M & I Bank Superior, WI Dean Fries Members Cooperative Credit Union Duluth Heather Rand Minnesota Department of Employment and Economic Development Duluth

Pam Sarvela UMD Natural Resources Research Institute Duluth Steve Schneberger National Bank of Commerce (Retired) Duluth   Steve Utech Republic Bank Duluth   Tom Van Hale Van Technologies, Inc. Duluth

Debra Demianiuk, Beacon Bank, and Bob Palmquist, Northspan Group, retired from the committee during fiscal year 2010-11.