Manistee County Community Foundation has announced an impact investment in Venture North Funding and Development, a community financial development institution (CDFI) and a CMF member, that provides affordable loans, small grants and no-cost consulting to help small businesses grow.

As a CDFI, Venture North gives priority to providing help to small businesses in areas with economic challenges in its 10-county northwest Michigan region.

“We are grateful for the community foundation’s support,” Laura Galbraith, president of Venture North said. “We will deploy this funding in the form of affordable loans to small Manistee County businesses. Our loans have terms that match the cash flow of the business client and can be used for purposes and in amounts that are often not supported with lending from other sources. Our experience is that we are often able to leverage our lending by two times or more to spread the benefits even wider to our clients.”

MCCF recently launched an impact investing program aimed at expanding its positive impact on the Manistee County community by investing a portion of its assets locally rather than in its traditional portfolio. Impact investments are investments made with the intention of generating both a financial and social return.

 “The mission of Venture North – lifting up small businesses and communities that need help the most – is also a great match with our philanthropic goals involving the well-being of Manistee County community,” Laura Heintzelman, president and CEO of MCCF said. “We hope businesses throughout the County will connect with Venture North to see how their growth plans will benefit from our investment.”