Business Finance Program Expands to Northwestern Wisconsin

With a $500,000 loan from M&I Community Development Corporation, the Northland Foundation has extended business lending into Superior and Douglas County, Wisconsin. M&I Community Development is an affiliate of M&I Bank.

Up until now, the scope of the Foundation’s Business Finance Program was limited to the seven counties of northeastern Minnesota. But the economies of northeastern Minnesota and northwestern Wisconsin are closely intertwined, especially in the Twin Ports of Duluth and Superior which share employees, suppliers, and customers from both sides of the bridge.

“It made good sense to find a way to expand financing into the Superior-Douglas County area. Thanks to the loan from M&I, we have the capital to do it,” said John Elden, Northland’s Director of Business Finance.

Exodus Machines, Inc. and Old Globe Floors, LLC, are the first two Douglas County businesses to be approved for loans.

“We are fortunate to have strong relationships with local and regional banks, working together to support businesses. M&I is no exception,” Elden continued. “We were very pleased to secure this loan and make it available for Superior and Douglas County projects.”

For more information, contact Kurt Johnson, Senior Loan Officer or John Elden, Director of Business Finance.

The Northland Foundation is an Equal Opportunity Lender, Provider, and Employer.