Business Finance Program News

Northland Foundation re-certified as a CDFI

The Northland Foundation has received confirmation of re-certification as a Community Development Financial Institution, or CDFI. The certification is provided by the U.S. Department of the Treasury’s CDFI Fund and signifies that an organization has met requirements as a financing entity having a primary mission of promoting community development, among other requirements. The most recent certification includes the Business Finance Program’s service area of Aitkin, Carlton, Cook, Itasca, Koochiching, Lake and St. Louis Counties in Minnesota and the neighboring Douglas County, Wisconsin.

Board of Trustees approves $910,300 to five organizations

Northland Foundation recently approved five loans totaling $910,300 to support economic growth and help businesses to create or save quality jobs in the region. Financing recipients are:

• Matthew & Sara Weik d/b/a Yker Acres, Wrenshall

• Arrowhead Healthcare Supply, LLC/Horizon Healthcare Supply, Inc., Duluth

• StandStand, Inc., Superior, WI

• Entrepreneur Fund, Inc., Duluth

The below-listed business received a Quick Turn Loan made in partnership with the borrower's bank.

• Barb & Corey Cleveland, Silver Tips Graphics Signs & Designs, Inc., Grand Rapids

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.