Small businesses are the heart of Michigan’s communities, and in rural northwest Michigan, they’re often the lifeline of local economies. That’s why the DTE Foundation is proud to invest $50,000 in Venture North Funding and Development, a nonprofit dedicated to helping entrepreneurs in underserved areas grow, succeed, and create lasting change.
Venture North is more than a lender. As a certified Community Development Financial Institution (CDFI), they specialize in supporting small business owners who may not have access to traditional financing. Their mission is simple but powerful: provide affordable loans and expert guidance to help people turn their ideas into thriving businesses.
With this grant, Venture North will expand its reach—offering low-cost loans and free business consulting to entrepreneurs in rural communities, especially those living at or below the poverty line or in areas overlooked by other financial institutions.
“The support of the DTE Foundation is crucial to our ability to help small businesses achieve their growth plans, including job creation and retention,” said Laura Galbraith, president, Venture North. “This grant gives us the tools to keep doing what we do best, like the 202 loans we’ve already provided, totaling over $12.6 million, while leveraging an additional $33 million from other financial partners.”
“At the DTE Foundation, we believe in the power of small businesses to transform communities,” said Rodney Cole, president, DTE Foundation. “We’re proud to support Venture North as they open doors for rural entrepreneurs—especially those who’ve historically been left out. Together, we’re building a more inclusive and resilient economy.”
CDFIs like Venture North play a unique role in the financial ecosystem. They step in where traditional lenders can’t, helping people and businesses access the resources they need to grow, hire and thrive.
This partnership is a reminder that when we invest in people and their potential, we all rise together.
