What's happening: Northern Initiatives, a nonprofit lender out of Marquette, was awarded a $250,000 grant to help business owners and job creators become more climate resilient. Using a number of techniques, including increased online educational opportunities, funds that can be paired with the latest Environmental Protection Agency’s Greenhouse Gas Reduction Fund and more, Northern Initiatives can help strengthen small businesses by adjusting to greener infrastructure and best practices.
How is it funded: The grant is funded by the Opportunity Finance Network’s Financial Justice Fund, which has $2.3 billion to use in efforts like this. The OFN is an organization that works with Community Development Financial Institutions, which is a private group that provides financial services to underserved communities and their issues. This latest grant is the third funding boost given to Northern Initiatives, all of which have come since 2020.
What they're saying: “We’re using the funds to learn, train, and support our staff, and understand what our customers need to stay on top of climate-related changes to their businesses,” said Elissa Sangalli, president of Northern Initiatives. “We’re going to visit other CDFIs to learn how they’re supporting climate resiliency and adapt those products and practices to help entrepreneurs across Michigan.”
What's next: Northern Initiatives will spend the money with various groups that need the climate resiliency changes the most. Further development of the online educational tools will take some time to put together and then will be available for those business leaders looking to take the right steps towards environmental and climate stability.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.