At a glance
From its website, read 2 Nov 2026Northland Foundation is a loan fund based in Duluth, Minnesota. Its website describes commercial real estate loans, SBA-backed loans and small-business loans. Stated loan amounts run from $10,000 to $500,000. Where it lends: Seven Northeast Minnesota counties plus all or parts of five Native nations. Business loan rates stated on its site range from 3% to 6%.
Each point is backed by a quote further down this page. Terms change: confirm with the lender.
How to reach them and apply
| Website | www.northlandfdn.org |
|---|---|
| Office (official list) | 202 West Superior Street, Suite 800, Duluth, MN 55802 |
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 |
|---|---|---|---|
| Commercial real estate loans | Rate: 3%–6% | Interest rates of 3-6% | source |
| SBA-backed loans (7(a)/504/Community Advantage) | Term: 7 yr–25 yr | Terms are 7-10 years for working capital, inventory, business acquisition including partial buy-in by an employee, tenant improvements, start-up expenses and up to 25 years for real estate. | source |
| Small-business loans | Term: up to 20 yr | Amortizations will generally not exceed 20 years. | 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.
Official record
CDFI Fund list, 21 Oct 2026| Institution type | Loan fund |
|---|---|
| Native CDFI | No |
| Date certified (as listed) | 30 Sep 2014 |
| RSSD ID | — (none listed) |
| Address | 202 West Superior Street, Suite 800, Duluth, MN 55802 Directions (Google Maps) |
| Website | www.northlandfdn.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. Emerging Entrepreneur Loans and Quick Turn Loans are described but their product type was not assigned; Quick Turn Loans list up to $150,000. Terms change — confirm with the lender before applying.
| Product | Amount stated | Text on the lender's site (verbatim, incl. menu labels) | Page |
|---|---|---|---|
| Commercial real estate loans | up to $500,000 | Loans up to $500,000 | source |
| SBA-backed loans (7(a)/504/Community Advantage) | up to $350,000 | Amounts up to $350,000. | source |
| Small-business loans | $50,000 – $500,000 | Amounts from $50,000 to $500,000. | source |
Loan sizes
Amounts from $10,000 to $300,000+.
sourceAmounts from $50,000 to $500,000.
sourceLoans up to $500,000
sourceAmounts up to $350,000.
source
Range used for the size filter: $10,000 to $500,000
Service area
Seven Northeast Minnesota counties plus all or parts of five Native nations
Seven Northeast Minnesota counties: Aitkin, Carlton, Cook, Itasca, Koochiching, Lake, and St. Louis, and all or parts of five Native nations
source
Borrower focus
- Low- and moderate-income / underserved
These include small start-ups and entrepreneurs who are veterans; women; Black, Indigenous, and other people of color; LGBTQ+; low income; living with a disability
source - Minority / BIPOC
These include small start-ups and entrepreneurs who are veterans; women; Black, Indigenous, and other people of color; LGBTQ+; low income; living with a disability
source - Startups
These include small start-ups and entrepreneurs who are veterans; women; Black, Indigenous, and other people of color; LGBTQ+; low income; living with a disability
source - Veterans
These include small start-ups and entrepreneurs who are veterans; women; Black, Indigenous, and other people of color; LGBTQ+; low income; living with a disability
source - Women
These include small start-ups and entrepreneurs who are veterans; women; Black, Indigenous, and other people of color; LGBTQ+; low income; living with a disability
source
Languages
- No non-English service found on the pages we read.
Online application
No online application link found on the pages we read.
Pages read (7)
- https://northlandfdn.org/
- https://northlandfdn.org/business-services/
- https://northlandfdn.org/business-services/business-funding/
- https://northlandfdn.org/business-services/small-business-consulting/
- https://northlandfdn.org/programs-supports/nonprofit-support-resources/
- https://northlandfdn.org/about-us/our-story-region/
- https://northlandfdn.org/programs-supports/
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.
- Do you need collateral, a business plan or a minimum time in business?
Their website does not say what they require. - Can I apply online, or do I need to call or visit?
We found no online application 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?
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$7.8 million in 8 awards from the U.S. Treasury's CDFI Fund, 1998–2022 (CDFI Equitable Recovery Program; CDFI Program, Financial Assistance; CDFI Rapid Response Program).
| Round year | Program | Amount |
|---|---|---|
| 2022 | CDFI Equitable Recovery Program | $933,696 |
| 2021 | CDFI Rapid Response Program | $1,826,265 |
| 2020 | CDFI Program, Financial Assistance | $520,000 |
| 2019 | CDFI Program, Financial Assistance | $565,000 |
| 2017 | CDFI Program, Financial Assistance | $686,500 |
| 2009 | CDFI Program, Financial Assistance | $2,000,000 |
| 2000 | CDFI Program, Financial Assistance | $750,000 |
| 1998 | CDFI Program, Financial Assistance | $500,000 |
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 Jun 2023| Total assets | $115.1M |
|---|---|
| Total liabilities | $4.9M |
| Net assets | $110.2M |
| Total revenue | $11.7M |
| Notes and loans receivable, net (Part X line 7) | $5M |
End-of-year figures from the Form 990 this organisation filed with the IRS for the fiscal year ending June 2023 (tax year 2022; EIN 41-1554455, filed as “NORTHLAND FOUNDATION”), taken from the IRS Annual Extract of Tax-Exempt Organization Financial Data (returns processed in 2023). 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 |
|---|---|---|---|---|
| Jun 2021 (990) | $122.1M | $112.4M | $27.7M | $6M |
| Jun 2022 (990) | $110.9M | $108.1M | $27.9M | $5M |
| Jun 2023 (990) | $115.1M | $110.2M | $11.7M | $5M |
Total assets fell 6% from Jun 2021 to Jun 2023; notes and loans receivable fell 17%. 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 |
|---|---|---|
| SBA approvals, FY2023–24 → FY2025–26 | 1 → 2 | Rank among the 6 certified CDFIs in Minnesota with SBA approvals in either period: 6 → 4. |
| 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 | $115.1M | Larger than 89% of the 19 other certified loan funds and venture funds in Minnesota with a matched Form 990 (median $20.5M). |
| Business loan rate its website stated (2 Nov 2026) | 3.00% to 6.00% | Prime rate that day: 7.00% (FRED DPRIME), so the lowest stated rate is 4 pts below prime. For an SBA 7(a) variable-rate loan the legal maximum is prime plus 3 to 6.5 points, by loan size. |
How these comparisons were worked out
| Measure | Peer group (this lender left out) | Peers | Where this lender sits |
|---|---|---|---|
| SBA approvals then vs now | certified CDFIs in Minnesota with SBA approvals FY2023–2026 | 5 | rank 6 → 4 of 6 |
| 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 Minnesota | 19 | larger than 89% |
“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). Prime rate: FRED DPRIME.
SBA loans approved
SBA data as of 30 Sep 2026The SBA's public loan data lists 4 SBA-backed approvals for Northland Foundation in fiscal years 2020–2026 (October 2019 to September 2026):
- 4 7(a) loans as the lender: $675,000 in total (gross amount approved), median $175,000
By fiscal year: FY2020 0 · FY2021 0 · FY2022 1 · FY2023 1 · FY2024 0 · FY2025 2 · FY2026 0.
By program
- 7(a) Community Advantage (2, 50%)
- 7(a) standard (2, 50%)
How this lender was matched in the SBA files: SBA lender ID 0513817: same name, state and city (SBA lists “The Northland Foundation”).
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. Northland Foundation 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 Duluth and Minnesota
- Minnesota Power Employees Credit UnionCredit union · Duluth, MNAuto / vehicle loans, Small-dollar / emergency loans, Home mortgages, Small-business loansVerified
- Neighborhood Housing Services of Duluth, Inc.Loan fund · Duluth, MNHome repair / improvement loansVerified
- Northeast Entrepreneur Fund, Inc.Loan fund · Duluth, MNCommercial real estate loans, Microloans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- African Development CenterLoan fund · Minneapolis, MNMicroloans, SBA-backed loans (7(a)/504/Community Advantage), Small-business loansVerified
- African Economic Development SolutionsLoan fund · St Paul, MNCredit-builder loans, Microloans, Small-business loansVerified
- Community Reinvestment Fund, IncLoan fund · Minneapolis, MNSmall-business loansVerified
Work at Northland Foundation? Link to this page
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