At a glance
From its website, read 2 Nov 2026Northern Great Lakes Initiatives is a loan fund based in Marquette, Michigan. Its website describes energy-efficiency loans, equipment loans and small-business loans. Stated loan amounts run from $1,000 to $500,000. Where it lends: Statewide across Michigan. The consumer loan APR it states is 0%. It says it considers borrowers with low or no credit history. You can start an application online.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Main | (906) 228-5571 source |
|---|---|
| info@northerninitiatives.org source | |
| Apply online | Page with the application link |
| Website | www.northerninitiatives.org |
| Office (official list) | 101 W. Washington St. Suite 9, Marquette, MI 49855 |
What their website says about applying
To start, tell us more about you and your business.
sourceCopy of Driver’s License, front and back, for each owner/guarantor
sourceBusiness Federal Income Tax Returns
sourceComplete the application
source
Phone numbers and addresses are the ones on the lender's own site and the CDFI Fund list. CDFI Atlas does not take applications.
Rates and terms they state
Read 2 Nov 2026| Loan | Stated | Text on the lender's site (verbatim) | Page |
|---|---|---|---|
| Energy / solar / efficiency loans | Rate: 0% APR | Get a 0% APR loan with the UPPCO | source |
As published on the lender's website on that date, not an offer or a quote. Your rate depends on the lender's review. A missing rate means the pages we read did not state one. For consumer loans we repeat a rate only when the lender states it as an APR (annual percentage rate, which includes fees); otherwise read the lender's own wording and ask for the APR.
Who qualifies, in their words
- Low or damaged credit considered
There is no credit score requirement. If your credit score is low
source - Collateral flexible or not always required
We are not a bank, so we are more flexible around collateral and equity.
source
Only rules the lender's own pages state. Other requirements may apply.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 8 Jan 2026 |
| RSSD ID | — (none listed) |
| Address | 101 W. Washington St. Suite 9, Marquette, MI 49855 Directions (Google Maps) |
| Website | www.northerninitiatives.org |
Head officeBranch or officeApproximate (ZIP code area)
Map data © OpenStreetMap contributors, © OpenMapTiles, tiles OpenFreeMap. Head-office points: U.S. Census Bureau geocoder.
Loans and eligibility
Verified from lender site on 2 Nov 2026Read from 7 pages of the lender's website on 2 Nov 2026. Quotes are verbatim. Extracted with AI help from the pages listed below and checked automatically against them. Not reviewed by a person. Confidence: high. The UPPCO 0% energy efficiency loan is limited to UPPCO small business customers. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Energy / solar / efficiency loans | — | 0% interest loan program for small businesses | source |
| Equipment loans | — | These loans can support training, working capital, equipment financing, and renovation. | source |
| Small-business loans | $1,000 – $500,000 | We can help your business get off the ground or continue growing with loans from $1,000 to $500,000. | source |
Loan sizes
We can help your business get off the ground or continue growing with loans from $1,000 to $500,000.
sourceMinimum loan amount of $1,000; maximum $50,000; payable over up to five years
sourceWe provide business loans ranging from $1,000 to $500,000, including loans guaranteed by the Small Business Association.
source
Range used for the size filter: $1,000 to $500,000
Service area
Statewide across Michigan
We are proud to work across all of Michigan to support small businesses get access to the funding they need.
source
Statewide: Michigan
Borrower focus
- Startups
You are a startup or existing business that might not qualify for traditional financing.
source
Languages
- No non-English service found on the pages we read.
Online application
Yes — the site links to an application. Online loan application
source
Pages read (7)
- https://northerninitiatives.org/
- https://northerninitiatives.org/uppco/
- https://northerninitiatives.org/business-lending/
- https://northerninitiatives.org/loan-inquiry/
- https://northerninitiatives.org/community-business-loan-fund/
- https://northerninitiatives.org/2021/08/community-business-loan-fund/
- https://northerninitiatives.org/2015/10/small-business-loan-where-to-go-when-the-bank-says-no/
Questions to ask when you contact them
Based on what their website said when we read it on 2 Nov 2026, and what it left out. Something missing here does not mean they don't offer it: ask.
- What interest rate and fees should I expect on your equipment loans and small-business loans?
Their website does not state a rate for this. - How long can I take to repay?
No repayment terms are stated on their website. - Do you offer free coaching or help preparing my application?
CDFI certification requires development services, such as training or advice, alongside lending. - What documents will you need from me, and how long does a decision usually take?
Their website describes some application steps (above); ask for the full document list.
Write down the answers, who you spoke to and the date, and ask for the terms in writing before you sign.
CDFI Fund awards
CDFI Fund database, 3 Nov 2026$5.7 million in 6 awards from the U.S. Treasury's CDFI Fund, 2016–2024 (4 programs).
| Round year | Program | Amount |
|---|---|---|
| 2024 | CDFI Program, Financial Assistance | $625,000 |
| 2022 | CDFI Equitable Recovery Program | $2,478,839 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2020 | CDFI Program, Financial Assistance | $500,000 |
| 2017 | CDFI Program, Technical Assistance | $125,000 |
| 2016 | CDFI Program, Technical Assistance | $123,975 |
These are awards and investments made to the institution itself to build its capital and capacity. They are not loans to borrowers, and an award does not mean the lender has money available for a particular loan today.
Source: CDFI Fund Searchable Awards Database, all 12,628 award records (1996–2025), read 3 Nov 2026. Years are the award round as the database lists it. Matched to the official CDFI list by exact name and state; see the method on the About page.
Size of the fund (IRS Form 990)
Fiscal year ending Dec 2023| Total assets | $44.9M |
|---|---|
| Total liabilities | $29.2M |
| Net assets | $15.7M |
| Total revenue | $8.9M |
| Notes and loans receivable, net (Part X line 7) | $23.6M |
End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending December 2023 (tax year 2023; EIN 47-3130767, filed as “NORTHERN GREAT LAKES INITIATIVES”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2024). Figures are self-reported to the IRS, not audited by us, and lag one to two years behind today. The lender’s own annual report may show newer numbers. This organisation’s filings on ProPublica Nonprofit Explorer
Filings over time
| Fiscal year ending | Total assets | Net assets | Revenue | Notes and loans receivable |
|---|---|---|---|---|
| Dec 2021 (990) | $39.5M | $14M | $5.3M | $16.2M |
| Dec 2022 (990) | $40.1M | $12.6M | $8.1M | $18.7M |
| Dec 2023 (990) | $44.9M | $15.7M | $8.9M | $23.6M |
Total assets grew 14% from Dec 2021 to Dec 2023; notes and loans receivable rose 46%. One row per fiscal year in the IRS extracts of returns processed in 2022, 2023, 2024; “—” = the line was empty or zero on that return (a fund can book its loans on other lines).
How it compares
Computed from public data| Measure | This lender | Compared with |
|---|---|---|
| Median SBA 7(a) loan it approved, FY2020–FY2026 | $174,350 (20 loans) | All 7(a) lenders in Michigan: $135,000. Larger than the median loan of 52% of the 97 other certified CDFIs with 10 or more 7(a) loans. |
| SBA approvals, FY2023–24 → FY2025–26 | 2 → 4 | Rank among the 8 certified CDFIs in Michigan with SBA approvals in either period: 6 → 5. |
| Largest loan its website states | $500,000 | Other loan funds whose website states a maximum: median $250,000. Higher than the stated maximum of 63% of these 184. |
| Total assets, latest IRS Form 990 | $44.9M | Larger than 94% of the 16 other certified loan funds and venture funds in Michigan with a matched Form 990 (median $6.6M). |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| Median SBA 7(a) loan | certified CDFIs with 10+ 7(a) loans, nationwide | 97 | larger than 52% |
| SBA approvals then vs now | certified CDFIs in Michigan with SBA approvals FY2023–2026 | 7 | rank 6 → 5 of 8 |
| Largest stated loan | other loan funds stating a maximum, nationwide | 184 | higher than 63% |
| Form 990 total assets | certified loan and venture funds with a Form 990, in Michigan | 16 | larger than 94% |
“Larger than X%” = the share of the peer group with a smaller value. Ranks count from the largest. Peer groups use the lender's home state when it has at least 5 peers, otherwise the whole country. Full definitions: methodology.
For comparison, not an offer and not a rating. Past records show what this lender did, not what you would be offered; your rate depends on the loan and on the lender's review. Peer groups and sources: methodology. SBA 7(a) & 504 FOIA data as of 30 Sep 2026. Form 990 figures: IRS annual extracts (see the Form 990 section).
SBA loans approved
SBA data as of 30 Sep 2026The SBA's public loan data lists 20 SBA-backed approvals for Northern Great Lakes Initiatives in fiscal years 2020–2026 (October 2019 to September 2026):
- 20 7(a) loans as the lender: $3.3M in total (gross amount approved), median $174,350
By fiscal year: FY2020 5 · FY2021 6 · FY2022 3 · FY2023 1 · FY2024 1 · FY2025 4 · FY2026 0.
What actually happened
- Size of its 7(a) loans: half were between $107,500 and $203,600, median $174,350 (20 loans)
- Term of its 7(a) loans: median 120 months (10 years) (20 loans)
- Fixed or variable: 100% of its 7(a) loans had a fixed rate (20 loans)
- Young businesses: 50% of its 7(a) loans went to a startup or a business two years old or less (20 loans with an answer)
Descriptive only: what the SBA file records for loans this lender approved in fiscal years 2020–2026. Each figure covers at least 10 loans; with fewer we show nothing. It is not an offer, not the rate or term you would get, and says nothing about your chance of approval.
By program
- 7(a) Community Advantage (15, 75%)
- 7(a) standard (5, 25%)
Borrower industries
NAICS sector, 3 or more loans.
- Accommodation and food services (6)
- Retail trade (4)
- Manufacturing (3)
How this lender was matched in the SBA files: SBA lender ID 0188388: same name, state and city (SBA lists “Northern Great Lakes Initiatives”).
Approved is not the same as paid out: an approved loan can be reduced or never drawn. SBA lists the lender each loan is currently assigned to, which can differ after a merger or loan sale. Northern Great Lakes Initiatives may also make loans outside SBA programs, which are not counted here, and SBA Microloans are not in these files.
Source: U.S. Small Business Administration, 7(a) & 504 FOIA loan data, files as of 30 Sep 2026, downloaded 3 Nov 2026. Our counts, cancelled approvals left out. How we match lenders.
Other certified CDFIs in Marquette and Michigan
- American 1 Credit UnionCredit union · Jackson, MIAuto / vehicle loans, Home mortgages, Personal / consumer loansVerified
- Awakon Federal Credit UnionCredit union · Onaway, MIAuto / vehicle loans, Commercial real estate loans, Equipment loans, Home mortgages…Verified
- BlueOx Credit UnionCredit union · Battle Creek, MIAuto / vehicle loans, Commercial real estate loans, Credit-builder loans, Equipment loans…Verified
- CASE Credit UnionCredit union · Lansing, MIAuto / vehicle loans, Commercial real estate loans, Equipment loans, Home repair / improvement loans…Verified
- COMMUNITY FIRST FEDERAL CREDIT UNIONCredit union · Lakeview, MIAuto / vehicle loans, Home mortgages, Personal / consumer loansVerified
- CORE Community PartnersLoan fund · Bingham Farms, MIAffordable housing development loansVerified
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