Northern Initiatives

MARQUETTE, MI--   Northern Initiatives says it has temporarily halted inquiries into a $2 million loan fund made available by the Michigan Economic Development Corporation. 

The Marquette-based community development financial institution says the announcement of the fund resulted in more than 700 inquiries sent through the Northern Initiatives website. It continued at an average of 50 leads per hour through the night.

MARQUETTE, MI--   Community development finance institution Northern Initiatives is getting assistance from the Michigan Strategic Fund to help businesses affected by COVID-19. 

The Northern Michigan University-based group will provide up to $2 million in loans through the Michigan Economic Development Corporation's Capital Access Program. Northern Initiatives will use the funds to make micro- and small business loans to businesses, with an emphasis on women- and minority-owned businesses. The loans will range from $5,000 to $250,000.

MARQUETTE, MI--   Northern Initiatives will have a new president come June. 

Elissa Sangalli has served as President and CEO of Local First of Grand Rapids since 2007. She was named one of the 50 Most Influential Women in West Michigan in 2018 and again this year and has been named among the Top 40 Under 40 three times by the Grand Rapids Business Journal.

Sangalli replaces Dennis West, who is retiring in June. She will be the third president in the 27-year history of the organization.