Contact Northern Economic Initiative Corp.
- Address
- 1401 Presque Isle Ave Ste 202 PO Box 7009 Marquette, MI 49855
- Phone
- 906-226-1622
- [email protected]
Where they lend
Northern Economic Initiative Corp. is an SBA-approved microloan intermediary serving Michigan.
What an SBA microloan is
The SBA does not lend directly. It funds intermediaries like Northern Economic Initiative Corp., who lend up to $50,000 to small businesses and start-ups that banks usually turn down. The average loan is around $13,000, terms run up to seven years, and decisions rest with the intermediary rather than the SBA.
Almost every intermediary asks for the same things: a written business plan, financial projections, what the money is for, and your credit history. The plan is where most applications stall.
Before you apply
Northern Economic Initiative Corp. will ask for a business plan with your application. We write SBA-ready plans built for microloan applications, with the financial projections lenders expect.
