Contact Northern Initiatives
- Address
- 101 W. Washington St. Marquette, MI 49855
- Phone
- 906-228-5571
- Website
- northerninitiatives.org
- [email protected]
Where they lend
Northern Initiatives is an SBA-approved microloan intermediary serving Michigan.
What an SBA microloan is
The SBA does not lend directly. It funds intermediaries like Northern Initiatives, 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 Initiatives will ask for a business plan with your application. We write SBA-ready plans built for microloan applications, with the financial projections lenders expect.
