Michigan Nonprofit Fuels 250 Jobs With $1.8M in Loans

Venture North is proving that betting on local businesses pays off in real jobs for real people across Northern Michigan.

The Traverse City nonprofit lender distributed $1.78 million across 20 loans in 2025, supporting businesses in Grand Traverse, Leelanau, Benzie, Antrim, Kalkaska, and Manistee counties. Those investments helped create 162 new jobs and kept 87 existing positions secure.

The numbers get even better when you look at the multiplier effect. Venture North's loans unlocked an additional $4.37 million from other financial institutions, bringing the total investment in local businesses to over $6 million.

As a certified Community Development Financial Institution, Venture North focuses where help is needed most. At least 60% of their resources go to low-income communities, economically distressed areas, and businesses owned by underrepresented populations.

The organization's track record since 2011 tells a story of steady commitment. They've now issued 212 loans totaling $13.37 million, which leveraged another $33.47 million in additional financing. That's helped create 719 jobs and retain 726 more over the years.

But Venture North does more than write checks. They hosted "Get Growing!" workshops across the region in communities like Cadillac, Traverse City, Glen Arbor, Charlevoix, and Manistee. Topics ranged from alternative financing to fraud protection to starting a daycare business.

The organization also expanded hands-on support with QuickBooks training, financial reviews, and cash flow management help. For many small business owners, this kind of practical guidance makes the difference between surviving and thriving.

When ice storms devastated parts of Northern Michigan on March 28, Venture North responded within days. They awarded $80,000 in emergency mini-grants to 61 small businesses in Emmet and Charlevoix counties, with grants ranging from $500 to $1,500.

The disaster response showed the power of partnership. Local community foundations, regional chambers, and economic development groups worked together to identify businesses in crisis and get money into their hands quickly.

The Ripple Effect

Every loan Venture North makes creates waves that spread far beyond a single business. When a Cadillac furniture maker gets financing, they hire workers who spend paychecks at local stores. When a Manistee business expands, suppliers and service providers benefit too.

The model works because it combines capital with capacity building. Business owners don't just get money. They get the knowledge and skills to use it wisely, creating sustainable growth instead of quick fixes.

Community foundations across the region have recognized this impact and become key partners. Support from organizations like Rotary Charities of Traverse City and the Grand Traverse Regional Community Foundation helps Venture North reach more businesses and take on bigger challenges.

Venture North is writing a new story about rural economic development, one successful business at a time.