Northern Initiatives finished the year with over $8M in outstanding loans. That represents an all time high for us at a year’s end.
We have concluded agreements with Escanaba, Gladstone, Iosco County, Ironwood, Kingsford, Luce County, Menominee, Spalding Township toward managing regional revolving loan funds for the Upper Peninsula and Northeast lower Michigan. In addition, Baldwin Township, Iron County, Marquette County, Ontonagon County, Rogers City the Village of Baraga are working their respective documents toward a conclusion during the first quarter of this year. Our work in making loans through these resources will be an important focus for us this year.
Finally we did have one loan that was approved and closed using the Eagle Emerging Entrepreneurs Fund, in 2013. This work was supported by the Lundin Foundation and we have other loans in the pipeline which will make this a very important resource for 2014.
|
Region 5 – Loan Performance 2007 – November 30, 2013: 6 loans totaling $505,658 |
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|
MICHIGAN ▪ UPPER PENINSULA (lending began 1994) |
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| County Name
Median Age 2012 Census Estimate (37.4) |
Pop.2012 US Census Estimate
313,914,000 (1.7% since 2010) |
Median HH Income 2011 US Census
$50,401 |
% of State Median HHIncome 2010 US Census | Un-employment Rate Nov, 2013
US 7% |
Poverty Rate2011
US Census 14.3% |
Children in Poverty (0-17) 2011 Kids Count Mi Data Book | % Bachelors Degrees; Adults over 252007-2011
Census 28.2% |
Women Owned
Firms 2007 Census 28.8% |
|||
| Michigan Total
Median Age 2012 Census Estimate (38.9) |
9,883,640 Red= decline between 2010 and 2012 (0%) |
$45,931 90.9% of US Median* |
RED=<80% Blue =80 to 90% Black = 90 to 100% Green => 100%* |
Nov, 2013 8.8% MI-DLEG Red= higher than the Mich. Jobless Rate |
17.5% Red = higher than the Mich. Poverty Rate* |
24.6% Red = higher than the Michigan Poverty Rate |
25.3% Red =<25.3% * |
30.4% Red =<30.4% _ Data suppressed or sample size too small |
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|
Region 1 – Loan Performance 1994 – November 30, 2013: 577 loans totaling $31,826,175 |
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| Alger (48.6) | 9,541 (.6) |
$39,486 |
86% |
11.1% |
16.3% |
22.7% |
17.1% |
– |
|||
| Baraga (43.5) | 8,683 ( 2) | $38,119 |
83% |
15.3% |
17.2% |
24.9% |
11.3% |
– |
|||
| Chippewa (39.8) |
38,917 1 |
$39,520 |
86% |
11.1% |
18.6% |
24.9% |
17.9% |
23.2% |
|||
| Delta (46) | 36,884 (.5) | $40,982 |
89.2% |
8.9% |
16.8% |
21% |
18.3% |
– |
|||
| Dickinson (46) |
26,220 .2 |
$44,262 |
96.4% |
7.2% |
12% |
18.5% |
19.3% |
– |
|||
| Gogebic (47.6) | 16,084 (2.1) | $33,382 |
72.7% |
9.6% |
20.5% |
30.8% |
18.4% |
29.6% |
|||
| Houghton (33.4) | 36,520 (.3) |
$35,425 |
77.1% |
7.9% | 20.1% |
21% |
27.1% |
24.1% |
|||
| Iron (52.7) | 11,587(1.9) | $34,384 |
74.9% |
9.5% |
15.1% |
26.6% |
16.3% |
– |
|||
| Keweenaw (53.5) |
2,215 2.7 |
$38,207 |
83.2% |
15.4% |
13.5% |
22.6% |
22.6% |
– |
|||
| Luce (43.8) | 6,522 (1.6) | $36,515 |
79.5% |
11% |
21% |
29.9% |
13.7% |
11% |
|||
| Mackinac (50.3) |
11,137 .2 |
$36,393 |
79.2% |
15.8% |
14.5% |
23.8% |
19.8% |
21% |
|||
| Marquette (39.1) | 67,906 1.2 | $41,663 | 90.1% | 7.1% |
18% |
20.6% |
28.6% |
– |
|||
| Menominee (47.2) | 23,815 (.9) | $39,292 | 85.3% |
6.5% |
15.8% |
26.2% |
13.4% |
– |
|||
| Ontonagon (54.8) | 6,413 (5.4) | $34,352 |
74.8% |
13.2% |
15.7% |
27% |
16.9% |
27.6% |
|||
| Schoolcraft (49.7) | 8,343 (1.7) | $38,366 |
83.5% |
12.8% |
14.8% |
25.2% |
12.1% |
– |
|||
| *left shift lower since last report, right higher, middle same |
310,787 |
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|
WISCONSIN |
|||||||||||
| County Name
|
Pop.2012 US Census Estimate
5,726,398 (.7% since 2010) |
Median HH Income 2011 US Census
$50,401 |
% of State Median HHIncome
|
Un-employ-ment Rate Nov, 2013US
7% |
Poverty Rate2007-11
US Census 12% |
Children in Poverty (0-17) 2009 Kids Count Wi Data Book
18% |
% Bachelors Degrees; Adults over 252007-2011
Census 26% |
Women Owned FirmsUS Census 2007
25.9% |
|||
| Wisconsin Total
Median Age 2012 Census Estimate (38.9) |
Red= decline between 2010 and 2012 (0%) |
RED=<80% Blue =80 to 90% Black = 90 to 100% Green => 100%* |
Red= higher than the Wisc. Jobless Rate Nov, 2013 5.8% |
Red = higher than the Wisc. Poverty Rate* |
18% Red = higher than the Wisconsin Poverty Rate |
25.3% Red =<25.3% * |
30.4% Red =<30.4% _ Data suppressed or sample size too small |
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|
Five Wisconsin Border Counties – Loan Performance 2007 – November 30, 2013: 5 loans totaling $512,500 |
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| Florence (50.8) |
4,482 .1 |
$46,041 |
91.3% |
8.8% |
14.1% |
20.7% |
14.5% |
– |
|||
| Forest (44.7) | 9,206 (1.1) |
$39,282 |
77.9% |
8.1% |
18.4% |
24.2% |
12.8% |
– |
|||
| Iron (52.3) |
5934 .3 |
$38,355 |
76.1% |
13.2% |
15.8% |
19.3% |
19% |
– |
|||
| Marinette (46.7) | 41,563 (.4) | $39,705 | 78.8% |
7.2% |
12.8% |
14.7% |
14.3% |
17.5% |
|||
| Vilas (52) | 21,338 (.4) | $40,901 |
81.2% |
9.5% |
12.9% |
19.5% |
23.5% |
19.1% |
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