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Northern Economic Initiatives Corporation
NMU University Center - Suite 1104, 1401Marquette MI, 49855-4330
CDFI Awards for Northern Economic Initiatives Corporation
TA (2007) - $79,560
Northern Economic Initiatives Corporation is a certified CDFI established in 1991. The organization provides business and microenterprise loans to an investment area of Michigan and northern Wisconsin counties bordering Michigan?s Upper Peninsula. Northern Economic Initiatives will use its FY07 Technical Assistance grant to: 1) engage Shorebank Enterprise Pacific to provide risk management related services; 2) purchase a customer relationship management system; and 3) replace outdated equipment to improve efficiencies.
TA (2005) - $34,560
NEIC will use the 2005 TA grant of $34,560 to 1) obtain consulting services to undertake strategy development, market research, business plan preparation, and product development; and 2) to cover the salary cost of two staff members to undertake business plan development, strategy development, and market research.
FA (2005) - $950,000
NEIC will use the 2005 financial assistance award of $950,000 to 1) support the development of a new long-term financial product and 2) increase deployment of existing products to its existing and recently expanded Investment Areas.
TA (2004) - $49,933
Northern Economic Initiatives Corporation (NEIC) will use the award to obtain consulting services, acquire computers and related technology, develop a strategic plan, and to train staff.
FA (2004) - $750,000
Northern Economic Initiatives Corporation (NEIC) will use the award to support its proposed market expansion to lower Michigan and the border counties of Wisconsin. Through its FA activities, NEIC will continue to meet increasing demand for start-up capital, which will aid in the generation of new jobs and new business start-ups in rural communities.
SECA (2000) - $35,000
The technical assistance award will be used to improve Northern Initiatives' technological infrastructure and e-business expertise, which is expected to increase its ability to serve its rural service area with greater efficiency and competency.
CORE (2000) - $760,000
The CDFI Fund"s $760,000 capital grant will help expand Northern Initiatives" lending activities.
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