Northern Initiatives Info for April

In the Lower Michigan counties, each one saw a drop in joblessness for the second month in a row. In the UP it was mixed as 7 counties saw their jobless rate go up, 7 lower and one remained the same.

At Northern Initiatives is  one hire away from having a full complement of staff. The first third of the year puts us on track to do $5M in new loans. The following table also shows that at least in the first part of the year that our downstate production is exceeding our traditional production in the UP. That will most likely balance out as the year goes along, but it is good to see the progress in those relatively new markets.

While this is all about data, what I appreciate and love are the stories of our customers. Please visit our website www.niupnorth.org

Thru April 2013 loans closed

1994-2012

Total

Region 1; Alger, Baraga, Chippewa, Delta, Dickinson, Gogebic, Houghton, Iron, Keweenaw, Luce, Mackinac, Marquette, Menominee, Ontonagon, and Schoolcraft Counties

3 loans / $306,000

561 loans /$30,577,000 564 loans/ $30,883,590
Region 2*; Antrim, Benzie, Charlevoix, Emmet, Grand Traverse, Kalkaska, Leelanau, Manistee, Missaukee, and Wexford Counties 6 loans/ $563,000

46 loans / $1,890,000

52 loans/ $2,453,022
Region 3*; Alcona, Alpena, Cheboygan, Crawford, Iosco, Montmorency, Ogemaw, Oscoda, Otsego, Presque Isle, and Roscommon Counties 5 loans/ $206,000

47 loans/ $4,306,000

52 loans/ $4,512,097
Region 4*(that fit NI’s Service Area) Lake, Mason, Mecosta, Newaygo, Oceana and Osceola Counties 1 loan/ $30,000

4 loans/ $280,000

5 loans/ $310,220
Region 5* (that fit NI’s Service Area) Arenac, Clare, Gladwin and Isabella Counties 1 loan/ $200,000

5 loans/ $305,000

6 loans/ $505,658
Wisconsin Border Counties* Forest, Florence, Iron, Marinette and Vilas Counties 1 loan/ $62,500 5 loans/ $620,000 6 loans/ $682,500
Total

17 loans/ $1,367,581

668 loans/ $37,979,506

685 loans/ $39,347,087

*lending in Region began in 2008


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