New online application or NI financing requests
MARQUETTE – With small businesses being an important driver of economic growth and job creation for rural communities throughout Michigan, Northern Initiatives’ new online application process aims to expedite requests for those seeking financing to start or grow a business.
Entrepreneurs and small business owners in Northern rural Michigan and neighboring Wisconsin can now begin their loan application process online at www.northerninitiatives.org/apply. Once the applicant has provided basic information about themselves and their business plan, technology allows Northern Initiatives to complete an initial screening of the applicant’s financing request. Within two business days, applicants will know if they prequalify for a loan.
The process will assist entrepreneurs and small business owners in securing financing in a timely fashion. “When we see promise in a business owner and their plan based on their online application, our lenders work closely with applicants to gather and submit the additional financial documents needed for loan approval” states Chuck Hurst, vice president of commercial lending. “While these additional documents help us advocate for the loan request, the initial online application helps everyone involved understand if continuing the process is likely to result in a loan.”
Northern Initiatives’ loans often support business owners and entrepreneurs that might not qualify for loans from traditional banks for a variety of reasons. Every one of Northern Initiatives’ loans comes with access to complimentary business services including access to online resources, interactive business tools, and one-on-one coaching.