Business Finance Program Approves $1.1 Million to Seven Businesses

The Board of Trustees approved financing totaling $1,160,000 between July and October 2010.

Through its Business Finance Program, the Northland Foundation offers flexible financing to new or existing businesses and nonprofit organizations in the seven-county Arrowhead Region as well as Superior/Douglas County, Wisconsin to help create and retain high-quality jobs and sustain economic vitality.

Since 1988, the program has provided more than $42 million in financing and helped businesses generate or save over 6,000 jobs in northeastern Minnesota.

Northern Light Building Company, Warba
Northern Lights Building Company was created by Northern Lights Community Charter School in 2005 for the sole purpose of owning a school building in Warba, MN. (Minnesota law prohibits Charter schools from owning their own buildings.) Financing provided will support much-needed energy improvements to the school building, which serves students in grades 5-12.

Wide Open Company, Grand Rapids
Wide Open primarily manufactures and assembles fiberglass reinforced enclosures and accessories for ATV Utility Vehicles. The company currently employs 25 people and anticipates creating additional seasonal shop laborer positions.

Clearly Superior, Inc., Superior, WI
Clearly Superior manufactures and distributes AquaCareH2O, its patented thickened water product. Thickened water is used by individuals with swallowing difficulties caused by conditions such as stroke, Alzheimer’s, cerebral palsy, multiple sclerosis, and Parkinson’s disease.

Landsmenn Energy Service Partners, LLC, Duluth
Landsmenn Energy Service Partners is a holding company which owns and is renovating the Landsmenn Building in Duluth. The building will provide additional office space for Lake Superior Consulting, LLC, an engineering and service company established in 2002 which provides services to the oil, natural gas, paper, mining and electrical industries.

B & B Brothers, Inc. d/b/a Overhead Door Company of Hibbing, Hibbing
The Overhead Door Corporation is based in Dallas, TX and is recognized as a leading single-source manufacturer of garage doors, garage door openers, accessories, commercial sectional door systems, rolling steel door systems, and high-speed traffic doors. B & B purchased the Hibbing distributorship in 2008 and now is expanding to Duluth.

Como Lube & Supplies, Inc., Duluth
Como supplies lubricants to industrial and commercial customers in the upper Midwest. Automotive companies are their primary customers but Como also supplies products to the aviation, mining, forest products, shipping, railroad, trucking, asphalt, and other industries. In addition the company employs a used oil refinery to recycle lubricants and other chemicals such as antifreeze and spent mineral spirits.

Mille Lacs Wild Rice Corporation, McGregor
Mille Lacs Wild Rice is a wild rice processing and milling operation located about 5 miles west of Aitkin. The company processes over 1,000,000 pounds of rice annually. Their products are distributed throughout the United States, Canada, Europe, Asia, and Central and South America.