The Northland Foundation closed on nine loans totaling $850,250 during the last quarter. The financing helps support six business expansions and three brand-new enterprises in the region.
Golden Paws Dog Training, LLC, Aurora
RSF Industries, Inc. d/b/a Range Steel Fabricators, Hibbing
Pastika Building, LLC, Ely
Bearaboo Coffee Escape, LLC, Cloquet
El Oasis Del Norte, LLC, Duluth
Ostman Trucking, LLC, Duluth
Dirty Dog Manufacturing, LLC d/b/a Hand Done T-shirts, Ely
Schwartz Jensen Consulting, LLC d/b/a Reinvent Your Hustle, Duluth
Northern Tranquility, LLC d/b/a Northern Tranquility Mental Health Services, Chisholm
To learn more about Business Services and loan tools available, please email our Business Services Director, Michael Colclough.
Suzanne Rauvola, Systems Manager,
and Michael Colclough, Business
What our Business Services contributes to economic development and financing in the region is consistent yet ever-changing. That sounds contradictory, but being a relevant resource for the past 33 years has always meant evolving with opportunities, challenges, needs, demand, tools and products, and capital.
Today, that includes shifting staff roles and a new relationship with longtime partners. Suzanne Rauvola has been with the foundation for 24 years and has, among diverse duties during that time, worked with the loan program on reporting and Technical Advisory Committee support. She is now working more directly with borrowers and financing partners for loan closings, invoicing, and more.
Michael Colclough, the Northland Foundation's Business Services Director, continues to lead marketing and outreach, connecting with potential borrowers and financing partners and developing loan deals.
Similarly, the Northland Foundation has worked in regional economic development alongside Northspan, a private nonprofit consulting organization, since the beginning. Thanks to a recent contract agreement, Northspan staffers Bob Palmquist and Amanda Vuicich are providing added underwriting capacity to our lending program
“Tapping knowledgeable employees like Suzanne and great colleagues like Northspan has meant doing things a little differently on the back end. But, outfacing, our program can maintain seamless service for borrowers and financing partners,” said Tony Sertich, President of the Northland Foundation.