Business Finance Program approves loans to nine northeastern Minnesota businesses

The Northland Foundation Board of Trustees approved nine loans to the following businesses, among them four Quick Turn Equipment Loans, for a total of $880,500 invested to support economic growth and help borrowers to create or save quality jobs in the region.

• Amundsen Farms, Inc. d/b/a Locally Laid Eggs, Wrenshall

• Arrowhead Healthcare Supply, Inc., Duluth

• Athenaeum Wellness Center, LLC, Duluth

• Champion Life Ministries, Inc., Duluth

• Peysar, Inc., Aitkin

The businesses listed below received Quick Turn Equipment Loans to assist with equipment purchase or refinancing. Quick Turn Loans are made in partnership with the borrower's bank with Northland providing up to $75,000 toward a loan maximum of $300,000.

• 222Art Center Real Estate, LLC, Duluth

• Jason Kylven, Duluth

• NK-G, Inc., Nashwauk

• Vikre Distillery, LLC, Duluth

Through the Business Finance Program, the Northland Foundation offers flexible financing options for new or existing businesses and nonprofit organizations in northeastern Minnesota as well as Superior/Douglas County, Wisconsin. Many financing projects include partnering with a bank or other financial institution to provide the total level of financing a client needs.