Business Finance Program News

Meet new Director of Business Finance, Michael Colclough

In late June, the Northland Foundation welcomed Michael Colclough as the Director of Business Finance.

Michael has 17 years of business banking experience in northeastern Minnesota as well as Superior, Wisconsin, most recently as the Market President of BMO Harris Bank in Duluth. He received a Bachelor of Arts Degree in Politics, Philosophy and Economics from Oxford University, United Kingdom, and Masters’ Degrees in Business Administration and Management from The College of St. Scholastica.

“As a development finance entity, the Northland Foundation plays a vital role in economic and community vitality in our region,” said Michael, “and it’s great to be part of that.”

Board of Trustees approves $275,000 in investments to businesses in Aitkin and Hibbing

Northland Foundation recently approved two Quick Turn Loans totaling $275,000 made in partnership with the borrower's bank:

• Hanzell Company, Aitkin

• Cast Corporation, Hibbing

Through the Business Finance Program, the Northland Foundation offers flexible financing options for new or existing businesses and nonprofit organizations in northeastern Minnesota to support economic growth and help businesses to create or save quality jobs. Many financing projects include partnering with a bank or other financial institution to provide the total level of financing that a client needs.

To learn more, contact Michael Colclough, Director of Business Finance or Kurt Johnson, Senior Loan Officer.