Venture North Funding & Development

What Venture North Funding & Development does

Venture North Funding & Development is a federally certified Community Development Financial Institution (CDFI) and nonprofit corporation headquartered in Traverse City, Michigan. Founded in 2010, it provides affordable loans, mini grants, and no-cost business consulting to small business owners across a ten-county region of northwest Michigan (Antrim, Benzie, Charlevoix, Emmet, Grand Traverse, Kalkaska, Leelanau, Manistee, Missaukee, and Wexford) who cannot qualify for traditional bank financing, including rural, low-income, and BIPOC entrepreneurs. The organization has helped more than 1,500 businesses since inception through an active loan portfolio spanning microloans ($5,000) up to larger capital loans (approximately $300,000).

Name

Venture North Funding & Development

Legal name

Venture North Funding & Development

Website

https://venturenorthfunding.org

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Venture North Funding & Development is a Traverse City, Michigan-based nonprofit CDFI providing affordable loans, mini grants, and no-cost consulting to underserved small businesses across a ten-county northwest Michigan region.

Ownership category

akta.pro rank

Product category

Community Development Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

National/Regional Development Finance Institutions (DFIs) (FSABAKAB)

Keywords

• Community development lending
• Small business loans
• CDFI financial services
• Business consulting services
• Microloan programs

Headquarters

HQ city

Traverse City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Loan Interest and Fees: Venture North generates revenue through interest on loans it issues to small businesses. As a CDFI nonprofit lender, loan terms are structured with low interest rates and no hidden fees, with the stated mission of helping communities rather than maximizing profit.
2. Grants and Philanthropic Funding: Venture North receives grant funding from government programs (CDFI Fund, CDBG, USDA Rural Development, Michigan Economic Development Corporation), foundations (Walters Family Foundation, Boundless Futures Foundation), and community organizations (Grand Traverse Regional Community Foundation). These funds are used to capitalize loan programs and provide mini grants to clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Venture North Funding & Development is a certified Community Development Financial Institution (CDFI) nonprofit lender that provides low-cost loans, no-cost business consulting, and mini grants to underserved small business owners across a 10-county region of northwest Michigan. The organization combines affordable patient capital with personalized coaching and referral services for entrepreneurs who cannot qualify for traditional bank financing.

Product overview

Venture North Funding & Development is a CDFI nonprofit lender offering a unified financial services portfolio for small businesses in northwest Michigan. The core offering combines affordable loans with no-cost business consulting, supported by online resources through Initiate Prosperity, mini grants, and connections/referrals services. The organization serves entrepreneurs who are underserved by traditional banks, providing flexible, accessible financing with personalized support throughout the loan lifecycle.

Differentiator

Problem solved

Functional benefit

Products and services

• Affordable Loans Low-cost loans ranging from microloans (e.g., $5,000) to larger growth capital (up to $300,000) with flexible repayment terms, low interest rates, and no hidden fees or tricky fine print, designed for small business owners who cannot qualify for traditional bank financing in northwest Michigan.
• Business Consulting No-cost professional business consulting offering personalized guidance, advice, and ongoing support on topics such as business planning, financial forecasting, marketing, bookkeeping, and growth strategy, offered at no charge alongside Venture North's loan products.
• Initiate Prosperity Free online resource portal providing downloadable workbooks, guides, and tools covering topics such as choosing a location, creating brand consistency, pricing for services, and LLC formation, available at no cost to Venture North customers for the life of their loan.
• Connections and Referrals Networking and referral services connecting small business owners with additional resources, partners, and opportunities within the northwest Michigan business community, including economic development organizations, chambers of commerce, and program partners.
• Mini Grants Small grants provided to qualifying small businesses, often paired with consulting services, to support business formation costs and specific needs such as attorney fees, accounting, web services, and equipment purchases.
• Regional Resiliency Program Emergency grant program awarding $5,000 grants to help northwest Michigan businesses during economic hardship periods, initially deployed during the COVID-19 pandemic to support 302 businesses through approximately $1.1 million in donated funding.
• TCLP Energy Efficiency Loan Fund Zero-interest loan fund administered by Venture North on behalf of Traverse City Light and Power (TCLP), providing financing for solar PV systems and energy efficiency projects to TCLP customers in the Traverse City service area.

Quantifiable outcome

• Over 1,500 businesses helped since formation in 2010
• +5 more outcomes

Named customers16 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Alliance for Economic SuccessminorImplementation/ SI/ Consulting PartnerSteered Jennifer Logan to Venture North for the Oak Heirlooms acquisition; Niki Schultz at the Alliance is credited with connecting the client to Venture North's services.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Northern Initiatives (Mission Finance Fund): Michigan-based CDFI providing loans, business coaching, and grants to small businesses and entrepreneurs across the state. Most directly comparable peer given overlapping Michigan geography, CDFI-certified nonprofit structure, and combined lending-plus-consulting model.
• Wisconsin Women's Business Initiative Corporation (WWBIC): Wisconsin-based CDFI offering small business lending, coaching, and microlending with explicit focus on women, BIPOC, and rural/low-income entrepreneurs. Closely aligned mission, loan products, and consultative service model to Venture North.
• Coastal Enterprises Inc (CEI): Maine-based CDFI delivering small business loans, consulting, and rural community development financing. Comparable nonprofit CDFI structure and rural/mission-driven focus, though larger scale and broader services.
• Justine PETERSEN Housing & Reinvestment Corporation: Missouri-based CDFI providing small business microlending, credit-building, and housing finance to underserved entrepreneurs. Shares the bundled lending + financial-coaching model and nonprofit CDFI designation.
• Community Reinvestment Fund (CRF USA): Minnesota-based nonprofit CDFI focused on financing for small businesses, affordable housing, and community development. Similar mission, federal CDFI certification, and reliance on impact capital and federal sources.
• LiftFund: Texas-based CDFI providing microloans and small business loans to underserved borrowers, particularly women, minorities, and rural entrepreneurs. Comparable microloan underwriting, mission orientation, and CDFI certification, but operates at much larger scale.
• Rural Community Assistance Corporation (RCAC): Federally certified CDFI serving rural communities across the western U.S. with small business loans, housing finance, and community facility lending. Highly comparable geographic/rural focus and nonprofit structure.

Emerging players

• Accion / Opportunity Fund: National CDFI providing small business microloans to underserved entrepreneurs, with strong emphasis on women and minority founders. Overlaps with Venture North in client base and product set but operates at significantly larger national scale.
• Grameen America: U.S. microfinance nonprofit providing small-dollar loans, savings programs, and financial education to low-income entrepreneurs (especially women). Comparable microlending product and underserved-borrower mission, with different (group-lending) methodology.

Others

• Traverse Bay Area Credit Union (TBACU): Northwest Michigan credit union and direct co-lender on Venture North deals (e.g., TC Golf Carts). Tangential, channel-partner-style relationship — an adjacent depository institution rather than a CDFI competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Venturenorthfunding
• LinkedInlinkedin.com/company/venture-north-funding-development

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Venture North Funding & Development