masthead

 

Winter 2012

 

Northland Foundation receives grant from Starbucks and Opportunity Finance Network’s “Create Jobs for USA” Initiative

The Northland Foundation’s Business Finance Program has received a $132,291 capital grant from the Create Jobs for USA Fund, a collaboration between Starbucks and Opportunity Finance Network (OFN). The grant is part of a national campaign to support businesses in underserved communities.

The Northland Foundation is one of the top-tier community development financial institutions (CDFIs) in the nation to be awarded a grant from the fund since the program began allocating awards in November of 2011.

Create Jobs bracelet

"Indivisible" bracelets.

The Create Jobs for USA Fund pools donations from Starbucks customers, partners/employees, and concerned citizens into a nationwide fund, held and managed by OFN, for community business lending. Donors who contribute $5 or more receive a red, white, and blue wristband with the message “Indivisible.” The wristbands are handmade in the U.S.A. and all component materials are made by U.S. suppliers, so the effort is also helping support American manufacturing jobs.

“Create Jobs for USA is shining a national spotlight on our work and will help the Northland Foundation continue to support businesses and nonprofits to create and sustain jobs in our region,” said John Elden, the Director of Business Finance at the Northland Foundation.

Financing totaling over $800,000 approved

The Northland Foundation Board of Trustees has approved financing totaling $819,700 to the following organizations for the period of October through December 2011.

Through its Business Finance Program, the Northland Foundation offers a number of flexible financing options for new or existing businesses and nonprofit organizations in northeastern Minnesota as well as Superior/Douglas County, Wisconsin. Many financing projects include partnering with a bank or other financial institution to provide the total level of financing a client needs.