Michigan Chronicle | Michigan CDFI Coalition Gets $10 Million Loan for Small Biz, Affordable Housing, and Community Spaces
The Michigan Economic Development Corporation (MEDC) recently announced Michigan Strategic Fund (MSF) Board approval for a loan of up to $10 million to the Michigan CDFI Coalition to increase lending capital availability for Michigan-based non-depository Community Development Financial Institutions (CDFIs).
American Banker | As CDFIs Face Headwinds, States Bolster Their Support
Rising interest rates have made it harder for CDFIs to offer affordable loans to small businesses, first-time homebuyers, and others in the communities they serve. A total of nine states now have state-funded CDFI programs, most of which were started during the Biden administration. The programs help CDFIs provide less expensive loans. “In this high-interest-rate […]
Common Ground Media | MI CDFI Coalition Members, Collaborators Help Create Connections and Collective Identity in Communities
There are many factors that contribute to the success of a community — the small business landscape, housing stock, job prospects, childcare, and more. When it comes to economic development, many moving parts are required to help entrepreneurs grow their start-ups, secure brick-and-mortar space, and gain access to capital for renovations or expansions. It takes […]
Crain’s Grand Rapids Business | Michigan CDFIs aim to turn $10M in state funding into $50M loan fund
The Michigan CDFI Coalition hopes to leverage $10 million in state funding to create a $50 million loan fund for small businesses and housing projects in the state’s underserved markets. The group of federally designated nonprofit community development financial institutions aims to raise $40 million from partner banks, credit unions and foundations to match the […]
Michigan CDFI Coalition Awarded $10 Million Low-Cost Loan to Help Launch Statewide Pooled Loan Fund
September 22, 2026 Today, the Michigan Strategic Fund (MSF) board approved a $10-million low-cost loan to help the Michigan CDFI Coalition launch the state’s first statewide pooled loan fund. The Coalition plans to launch a $50M pooled fund in 2027 and grow it in future years. MEDC, who provides administrative services to the MSF, has […]
Common Ground Media | Community Development Financial Institutions help rural Northern communities fund affordable housing, education, support small business growth
Common Ground Media connected with Michigan CDFI Coalition members for their Block by Block series to discuss the role they play in closing gaps between traditional lending and CDFI support. Rural communities often experience a lack of capital access due to bank mergers, or community banks leaving their areas. CDFIs step in to bridge the […]
Press Release | Michigan CDFI Coalition Members Awarded $310 Million in New Markets Tax Credits
FOR IMMEDIATE RELEASE Michigan CDFI Coalition Members Awarded $310 Million in New Markets Tax Credits Allocations will drive job creation, affordable housing, and access to health care in rural and underserved communities across Michigan LANSING, MI – January 21, 2026 – Members of the Michigan CDFI Coalition have been awarded a combined […]
Advocacy Tour | The Gallery Beauty Supply
Our advocacy tours provide a firsthand look at the impact CDFI dollars have across Michigan. Recently, we had the privilege of welcoming several state legislators to see how CDFI lending supports small businesses and strengthens local economies. A highlight of these visits was Rep. Linting’s tour of The Gallery Beauty Supply in Southgate, a thriving […]
Advocacy Tour | GLOV Enterprises
Rep. Jenkins-Arno recently toured GLOV Enterprises in Tecumseh, an injection molding company with cradle-to-grave design engineering capabilities serving the industrial, consumer, and automotive markets. Supported by a loan from Northern Initiatives, GLOV Enterprises demonstrates how CDFI lending can help small and mid-sized businesses expand operations, innovate, and remain industry-leaders. During the visit, Rep. Jenkins-Arno had […]
Advocacy Tour | Tasty Twist
Rep. Wortz recently visited Tasty Twist in Coldwater, a unique ice cream retail restaurant supported by Northern Initiatives. Tasty Twist offers premium treats and eats, featuring a rotating selection of flavors, specialty treats, and a full menu of light food items. CDFI lending is more than just financing, it’s a driver of community impact, as […]