Business Finance Program invests $794,000 in northeastern Minnesota businesses

The Northland Foundation Board of Trustees recently approved four loans, among them one Quick Turn Equipment Loan, for a total investment of $794,000 to support economic growth and help businesses to create or save quality jobs in the region. Financing recipients are:

• K & L Buck Properties, LLC, Duluth

• Landsmenn Energy Service Partners, LLC, Duluth

• Duluth Steel Fabricators, Inc., Duluth

The below-listed business received a Quick Turn Equipment Loan 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.

• Ground Effects Excavating, Inc., Saginaw

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.