Business Finance Program

The Northland Foundation’s Business Finance Program provides flexible financing to new or existing businesses in the seven-county Arrowhead Region with the goal of helping retain or create high-quality jobs and sustain the economic vitality of northeastern Minnesota.

 

A Voice for Partnership

Rob West, President and CEO of APEX

Rob West is a big believer in the power of partnership. In fact, it is his organization’s middle name. The Area Partnership for Economic Development (APEX) is a private sector organization dedicated to driving growth in the region.

Northeastern Minnesota is blessed with a vibrant economic development network which includes the Northland Foundation’s Business Finance Program and APEX. Private, public, and philanthropic sector organizations approach the work of business attraction, expansion, and retention as a collaborative effort. Each plays a role in supporting quality jobs and a diverse, thriving economy.

Northstar Aerospace is a shining example of how good relationships pay dividends. A Northland Foundation loan provided the fledgling company with start-up capital and helped finance subsequent expansion. Today, this bustling aviation industry supplier provides family-sustaining wages with benefits to more than 100 employees. And, Northstar gives back to the economic development community that nurtured it as an APEX member and a contributor to Northland Foundation programs. Partnerships come full circle.

 

Business Finance Programs... Loan Summary Loans Technical Advisory Committee

Loan Summary
Total Loans and Guarantees	13
Total Dollars Leveraged	$15,417,750
Jobs Created & Maintained	207
Total Business Financing Activity	$2,621,250

 

Loans

Duluth Heritage Sports Center, Duluth
Superior Thermowood of Brainerd, Inc., Palisade
Duluth Camera Exchange, Inc., Duluth
Neighborhood Housing Services of Duluth, Inc., Duluth
Harbor Centers, Inc., Duluth
Marvel Concepts, LLC, Duluth
Tissue Engineering Consultants, Inc., Duluth
Miller Hill Steel, Hermantown
Dynamic Structural Steel, LLC, Proctor
Blocker, Inc. d/b/a Zim Sod Company, Zim
Blue Sky Partners, LLC, Duluth
SISU Medical Systems, Duluth
Kirk Bustrom/Athletic Republic, Duluth

 

Technical Advisory Committee

Gary Arnebeck Hibbing	Pam Sarvela UMD Center for Economic Development Duluth
Dean Croft Two Harbors Credit Union Two Harbors	Steve Schneberger National Bank of Commerce Duluth
Debra Demianiuk Beacon Bank Duluth	Steve Utech Republic Bank Duluth
Bob Palmquist The Northspan Group Duluth