Marquette's Northern Initiatives will be extending its capabilities as a result of a new program the business-development organization is involved with.
Northern Initiatives is one of 21 participants in an educational program called the
10,000 Small Businesses Community Development Financial Institutions Growth Collaborative, which is backed by the Opportunity Finance Network and the Goldman Sachs Group, Inc.
Working with the collaborative--a three-year program--will allow Northern Initiatives to participate in a learning program that will help them address small business needs in the local community.
"Northern Initiatives works to help rural businesses launch, grow and prosper. NI has been focusing on scaling our commercial lending and technical assistance toward a result of more business activity and jobs being created," says Dennis West, who is president of Northern Initiatives. "This opportunity places us in a learning network of groups who are focusing on the same objectives. We are excited for this opportunity to collaborate and learn with like-minded organizations."
Some of the things Northern Initiatives will do as part of the program include information exchanges, meetings, online learning and networking; the opportunity to apply for one-on-one or small group consulting; training on community development financial topics; discussions and development of tools, policies and practices; and conference attendance and presentations.
The community development financial institution industry as a whole also will benefit from the program, which will seek to publish new resources and design new assistance to other CDFIs like Northern Initiatives and other participants.
Northern Initiatives and the other CDFIs were chosen as representing underserved communities that have low wealth and income statistics nationwide.
Writer: Sam Eggleston
Source: Dennis West, Northern Initiatives
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