Know Your Lender: Northern Initiatives
Where do they work: All 83 counties in Michigan
What they are: A CDFI! Huh?
Northern Initiatives is a Community Development Financial Institution (CDFI) that focuses on providing loans when family wealth is not an option. They provide the types of loans that banks won’t do, can’t do, or shouldn’t do. Typically this is because of low credit scores or lack of equity or collateral to meet traditional bank standards.