2025 Impact Snapshot: A Year of Growth, Grounding and Regional Momentum

2025 was a year of meaningful growth across our region. From Ely, Minnesota, in the north to Marinette, Wisconsin, in the east, and as far west as Morrison County, our work spanned hundreds of miles of shorelines, forests, farmland, and Main Streets. Across that entire landscape, one theme was clear: entrepreneurs here are building, expanding, and investing in the future of their communities.

And we are proud to stand alongside them.

A Region on the Rise

In total, our team served 1,854 entrepreneurs in 2025 through accessible financing and expert advising.

• Approved 131 small business loans, totaling $17.3 million.

• Nearly doubled the average loan size from 2024 to $132,000, reflecting an increase in ambitious, growth-focused projects.

These numbers represent more than capital. They represent innovation, creativity, and commitment from the hundreds of business owners working to strengthen our region’s economic future.

Northern Wisconsin: A Clear Signal of Demand

2025 was our first full year following a two‑year expansion into northern Wisconsin, and the results underscored why that expansion mattered. Nine counties in Northern Wisconsin accounted for 38% of all our lending — $6.5 million in financing — demonstrating that our services are not only valued but essential to supporting business growth in the region.

This tells a powerful story: business owners across the northern part of the state are eager to grow, invest, and take meaningful steps toward long‑term stability and expansion. One example is Hudson Square Coffee, where strategic financing paired with trusted guidance and partner coordination helped an independent business thrive in a smaller community.

“The most rewarding thing is just watching it grow,” said April Jolma, owner of Hudson Square Coffee Company. “Watching where we started from. We’ve gotten so much support. I think that’s been the most rewarding.”

Minnesota: Long-Term Impact You Can See

In Minnesota, our 36 years of operation gave us the chance to reflect on long-term community transformation — particularly in Two Harbors, where we saw how nearly a decade of lending and advising has helped multiple entrepreneurs expand, hire, and reinvest, creating a ripple effect that strengthens the entire community.

In this town of just over 3,500 people along Lake Superior’s North Shore, EFund has supported 77 businesses since 2017. Today, 71 remain in operation, and 64% have been operating for five years or more—well above Minnesota’s 49% five year survival rate. These businesses have revitalized the local economy, created or sustained nearly 400 jobs, and built spaces that attract both residents and visitors.

Two Harbors shows what’s possible when local business owners lead the way—building lasting businesses, creating opportunities, and shaping a stronger future for their community.

“I love the people and I love our location,” said Chrissy. “I feel like it's this safe haven, and there's a lot of potential. I want to be part of that growth and I want to inspire other people to do it, too. Because if a hairdresser can do it. I think anybody can.” 

Strengthening Critical Local Industries and Community Recovery

Throughout the year, we also focused on sectors that keep communities stable — especially the local food supply chain.

Highlights included:

• Pioneer Market & Deli — a story of a community hub revitalized.

• Glen Meats — supporting regional food processing and access.

• Darlings Grocery – Madeline Island’s only grocery store fills community need.

These businesses are essential to everyday life in rural communities. By supporting them, we’re not just funding individual ventures — we’re strengthening the systems that sustain our region.

In 2025, we wrapped up flood recovery funding in Cook, Minnesota, partnering with the City of Cook and Iron Range Resources and Rehabilitation to help local entrepreneurs rebuild after the devastating 2024 flood. By yearend, we approved six loans totaling more than $1.3 million.

One of the businesses supported was Cook Building Center, whose lumber yard sat under 54 inches of water in June 2024—forcing owner Eric Burckardt to retrieve materials by pontoon boat. Faced with the choice to relocate or rebuild, Eric chose to stay and preserve the business’s century long presence in downtown Cook.

With support from the City of Cook Economic Recovery Fund, which offered low interest, partially forgivable loans, Cook Building Center repaired damage and invested in long term protection, including 280 feet of elevated lumber racking.  

“[This fund] made a lasting difference for our business and helped ensure that we can continue to serve the Cook community for years to come,” said owner Eric Burckhardt.

Programs & Services: The Foundation of Entrepreneurial Success

Of course, lending is only one part of what we do. In 2025, our advisers delivered more than 7,730 hours of personalized support — helping entrepreneurs navigate operations, business strategy, financial planning, and long-term growth.

High-Impact Education

We also saw 74 entrepreneurs complete our signature programs:

• Business Mastermind - A dynamic peer group that meets monthly over the course of six months to discuss challenges, exchange ideas, and gain valuable insights from a supportive network of non-competing businesses.

• Be Strategic: Grow Your Business - A collaborative, six-week program that helps growth-driven business owners craft a clear, actionable roadmap to success.

• Profit Mastery - A two-day workshop designed for established business owners ready to boost profits, improve cash flow, and enhance financial management.

These programs give business owners the confidence and skills to intentionally grow their companies.

For Heather Bergherr, co-owner of The Green House in Carlton, MN, Profit Mastery and Be Strategic gave her the tools to assess her business and plan for sustainable growth.

“Working with EFund changed our lives when we bought The Green House. It only made sense to go to them for help with growth,” Heather said, reflecting on the loan she and her husband received when purchasing the business three years ago.

She plans to “leverage the skills learned in these classes to build a strong marketing plan, grow steadily with the right foundation, and make decisions based on solid data instead of feelings.”

Looking Ahead to 2026

The momentum continues into 2026 with renewed energy and new opportunities.

The Return of the Distinction Awards

The Distinction Awards are back! Mark your calendars for May 7, 2026, in Duluth. These awards are more than recognition. They bring together growth-minded entrepreneurs, spark collaboration, and highlight the powerful role small businesses play not only regionally, but on national and even global stages.

We believe in celebrating the trailblazers and innovators among us because when one entrepreneur grows and succeeds, our entire region grows and succeeds.

Evolving with our Entrepreneurs

Behind the scenes, we strengthened our organization in 2025 — modernizing systems, refining processes, and enhancing the ways we support entrepreneurs. These improvements weren’t loud or flashy, but they were meaningful. They ensure we can deliver responsive, high-quality financial and advisory support today and far into the future.

In 2026 we look to continue this work and exploring innovative ways to deliver value, deepen support, and strengthen the entire entrepreneurial ecosystem.

A Strengthened Board with Fresh Eyes

At the end of 2025, we welcomed four new members to our Board of Directors, expanding the strategic vision and expertise guiding our organization. Together, these leaders bring expertise in business development, finance, law, and ownership—strengthening our board’s ability to better serve entrepreneurs across the region.

“This is a fantastic group of leaders with strong connections to EFund’s mission,” said Shawn Wellnitz, EFund CEO and President. “Their wide range of expertise and deep commitment to our region will be invaluable as we shape the future of the organization. Together, they’ll help guide EFund in becoming an even stronger, more strategic partner for small business growth across the communities we serve.”

As we reflect on 2025, one thing stands out: our region is full of determined, creative entrepreneurs who are investing in their communities and shaping a stronger future for all of us. It’s an honor to stand beside them — and we can’t wait to see what 2026 brings.

If you’re ready to be part of this momentum, get started today or contact us at info@efund.org.  

‍