Venture News
Top Talk
September 3, 2015
Venture North Launches New Website
It's here - a new website specifically dedicated to the business financing products and services of Venture North.

Venture North was formed earlier this year through the merger of the Traverse City Area Chamber Foundation and the Traverse Bay Economic Development Corp. It holds approximately $5 million in lending assets and has a current loan portfolio of more than $2.4 million being utilized by more than 40 area businesses.

The new Venture North website includes information on:
  • Venture North's five business financing funds and how to apply
  • A new Venture Up North professional talent portal (see story below)
  • Contact information for Venture North staff
  • Other information including videos, funding partners and the Venture North board.
Click here to check out the Venture North website.
Venture Up North Seeks Talent
One of the exciting new initiatives created by Venture North is a professional talent portal called Venture Up North, designed to highlight career opportunities available locally in the fields of technology, manufacturing, information systems, energy production and numerous others.

Venture Up North is a tool that professionals from all over the world can access for information on career opportunities available here in Northern Michigan, and is designed to attract much-needed talent to the region. It features separate links for advanced flexible manufacturing, information systems including software and logistics, and laboratory and precision instrumentation companies. It includes a list of local companies that operate in those fields, highlights some of our local business leaders, and includes maps and links to nearly 150 businesses across the area. It's a one-stop-shop for professionals hoping to launch or grow their careers in Northern Michigan.

Click here to visit this exciting new talent portal.

Great Start's Mary Manner

Great Start Earns National Innovation Award
The Traverse Bay Great Start Collaborative earned a Regional Innovation Award from the Association of Chamber of Commerce Executives. The award recognizes organizations that build stronger communities through breakthrough program development and collaboration among partners. It was presented to Great Start Coordinator Mary Manner at the ACCE Annual Convention last month in Montreal, Canada.
The Great Start Collaborative Traverse Bay is a partnership between Venture North Funding and Development and the Traverse Bay Intermediate School District. It focuses on early childhood development as a driver of regional economic development. It brings together community leaders, families and caregivers to create advanced early childhood systems through the area that support family health, early literacy and expanded child care options.

Learn more about the ACCE Award presented to Great Start.

FUNDING | Access to Capital
Venture North Teams with Manistee Group
Venture North Funding and Development will expand the regional reach of its business financing and support efforts through a new partnership with the Alliance for Economic Success based in Manistee.

Under the agreement, Venture North will work with the AES to provide training to support outreach and development of community financing opportunities, direct presentations on available Venture North programs and products, conduct grant and loan evaluations and related activities. The Alliance will help introduce Venture North to prospective clients and organizations, and train its personnel in outreach of loans and grants available through Venture North.

"Venture North is excited to work with the Alliance for Economic Success to expand our business financing and support efforts into Manistee County, as we continue to evolve as a regional economic development organization for the 10-county Northwest Michigan region," Venture North Executive Director Laura Galbraith said.

Click here to learn more about the Alliance for Economic Success.

Building Benzie Business
Venture North is encouraging businesses in Benzie County to take advantage of $1 million in available funding through the Community Development Block Grant Loan Fund.

The CDBG Loan Fund, formerly known as the Regional Revolving Loan Fund, is available to businesses seeking capital to finance real estate, inventory purchases, receivables, equipment and other working capital needs. The loan fund is specifically targeted to encourage economic growth in smaller communities, and job creation is among the necessary requirements.

Click here for more information on how to apply.

Zero Interest Energy Loans Available
The days are getting shorter and the nights are getting colder - which means higher utility bills are just around the corner.

Your business can reduce those energy costs through a zero percent loan through the Energy Efficiency Revolving Fund created through a partnership between Venture North and Traverse City Light & Power. It's available to TCL&P commercial and industrial companies that are making their businesses more energy efficiency by investing in infrastructure upgrades.

Loan terms vary based on the type of project and the needs of the borrower. Loans of up to $50,000 are available with terms up to five years. Click here to learn more about the program.

A Small Business Lending Roundtable
The U.S. Small Business Administration's (SBA) Guaranty Loan Program is being utilized by small businesses across the country to grow their operations. The SCORE Traverse City chapter and SBDC Northwest will host a SBA financing roundtable on Friday, September 25 from 8:30 a.m. - noon at NMC's Parsons-Stulen Building at 2600 Aero Park Drive to explain the SBA lending process and share real-life examples of SBA loan recipients. Venture North Executive Director Laura Galbraith is among the presenters.

The event is $25 and pre-registration is required. Sign up online at or call (231) 922-3780.

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Total Funded

as of September 1, 2015

Funding Available:
Approximately $3 million