Northern Initiatives, a nonprofit lender serving communities across Michigan, has been named Michigan SBA Microlender of the Year by the U.S. Small Business Association.
For more than three decades, Northern Initiatives has used SBA programs to help underserved entrepreneurs and small businesses access capital. According to the SBA, Northern Initiatives has issued 615 SBA microloans totaling $13,025,410 since 1994. In 2025, the year for which the organization is being honored, Northern Initiatives made 22 SBA microloans totaling$580,245.
The SBA microloan program provides loans of up to $50,000, with the average loan around$13,000. Across Michigan, the SBA delivered $1.3 billion in financing in 2025.
Jacquart Fabric Products of Ironwood was an early recipient of an SBA microloan from Northern Initiatives in 2015 and went on to build the iconic Stormy Kromer brand, helping put Michigan’s Upper Peninsula in the spotlight. Today, Jacquart employs more than 150 people.
“We can see the impact of these loans in every city – sometimes on each block,” said Elissa Sangalli, president of Northern Initiatives. “More than 99.5% of Michigan businesses are small businesses, and they employ nearly half of the state’s workforce. We are honored to support their success”
Since its founding, Northern Initiatives has loaned more than $120 million to Michigan entrepreneurs.
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