Spencer Alverson learned to fish on the rivers around Midland—wading into the Titabawassee and Chippewa as a kid, casting lines where curiosity mattered more than technique. Years later, those same rivers pulled him downtown to Little Forks Outfitters, a fly-fishing shop just a block from their confluence. At first, he came for the camaraderie: the stories, the advice, the quiet wisdom traded among anglers.
Then he stayed to learn the business.
Over seven years as an employee, Spencer absorbed everything—from inventory and cash flow to marketing and customer relationships. When the opportunity came to buy the business, he was ready. Traditional banks, however, saw the purchase as a startup and said no. That’s when Northern Initiatives stepped in. Using an SBA Community Advantage loan—paired with a seller who believed deeply in Spencer—Northern Initiatives helped him cross the line from employee to owner.