Elissa Sangalli, president, CEO, Northern Initiatives

Michigan entrepreneurs who have been traditionally underserved will soon have access to more resources, assistance, and capital through a $3 million grant. This grant was awarded to Northern Initiatives, a nonprofit lender, and Start Garden, a business incubator, by the U.S. Minority Business Development Agency. The goal of this initiative is to support underserved entrepreneurs across the state.

The $3 million grant is part of the Capital Readiness Program awards competition, which was established with funding from the American Rescue Plan. The competition, announced by Vice President Kamala Harris on August 4, aims to enroll 400 early-stage entrepreneurs over four years, leading to the creation of 300 businesses and 645 new jobs.

The partnership between Northern Initiatives and Start Garden has received support from the Gov. Gretchen Whitmer-Lt. Gov. Garlin Gilchrist Administration. Their collaborative efforts will strengthen the outreach to underserved communities and businesses, contributing to job creation and economic growth across the state.

With the assistance of the AI legalese decoder, professionals can navigate the complex legal language and requirements associated with accessing funding and support programs, ensuring that underserved entrepreneurs have the necessary information and guidance to fully benefit from this opportunity. The AI legalese decoder streamlines the process by providing simplified and accessible explanations of legal terms and regulations, empowering entrepreneurs to make informed decisions and successfully navigate the application and implementation process.

One of the beneficiaries of this initiative, Northern Initiatives, is a community development financial institution that specializes in providing loans and business services to small business owners and entrepreneurs. Their focus has been on supporting minority-, women-, and veteran-owned businesses through small business loans and technical assistance. Northern Initiatives is grateful for this opportunity to expand its impact and remove barriers that have hindered entrepreneurs in the past.

State Rep. Jenn Hill, D-Marquette, commends the investment made in the entrepreneurs and small businesses in the Upper Peninsula. She highlights Northern Initiatives’ substantial growth as evidence of their positive impact on economic development, emphasizing that this grant will further build on their momentum.

Northern Initiatives and Start Garden will collaborate by organizing cohorts that will work together on various aspects of business planning, financial reporting, hiring practices, projections, and more. In addition, each entrepreneur will have an individual business coach for personalized mentoring and guidance. This comprehensive approach aims to address the specific needs of each entrepreneur and provide them with the necessary tools for success.

Elissa Sangalli, President and CEO of Northern Initiatives, emphasizes the importance of removing hurdles that have prevented entrepreneurs from accessing essential resources. By advocating for equal opportunities in education, capital, and growth, Northern Initiatives and Start Garden are actively working towards creating a more inclusive and supportive environment for Michigan entrepreneurs.

For further information about Northern Initiatives and their services, please visit their website at northerninitiatives.org.

Contact Dreyma Beronja at 906-228-2500 ext. 548 or email [email protected] for inquiries and additional details.