How Financial Wellbeing Empowers Artist Nicole Ray

From growing her small business to achieving her dreams of homeownership, illustrator Nicole Ray utilizes her partnership with Lake Trust to dream bigger.

How an Ann Arbor book festival sparked inspiration.

While Nicole has always been an artist, the idea of pursuing her passion full-time sparked during a visit to the Kerrytown Bookfest in Ann Arbor. It was the height of the 2008 recession, and she was working in journalism. But she could see big changes ahead in the industry and was trying to decide on her next career move. At the event, inspiration struck. She saw book illustrators selling their work on prints and greeting cards. Would people buy her designs too?

Soon after the festival, she opened an Etsy shop under the business name Sloe Gin Fizz (inspired by a Jack White and Loretta Lynn song) and worked on her art part-time. Through this platform, she connected with the Michigan Indie Crafters of Etsy and started creating her own prints and greeting cards to sell at in-person events. After a successful weekend at an arts and crafts show in Chicago, Nicole realized she could easily turn her art into a full-time business. And this kicked off the next chapter of her life. Now she works with over 150 small businesses, nonprofits, libraries, stores, and university press publications to share her imaginative scenes.

Getting a small business loan to see a project through.

Though Nicole has had a personal membership at Lake Trust for many years, her path as an artist and small business owner crossed with the credit union just a few years ago. She was working with an author through Fifth Avenue Press, the Ann Arbor District Library’s publishing arm. The author planned to do a series of four books and had paid to print the first two. But then funding ran out, and the project was in jeopardy of being put on hold.

So, Nicole decided to get a small business loan to finish the project.

“It was scary to get a small business loan and take out a bigger portion of money. Especially because in the kind of business I run, everything is so unknown,” said Nicole. “But now having done it, I would feel much more comfortable doing that going forward.”

With the funding secured, the project continued, and the four-book series became a great success.

“To be able to go to my bank and be able to move forward with a project was very exciting,” said Nicole. “It also made me feel like I could go to them in the future if something like this came up, and that they’d be there to support my business.”

Supporting their dreams of homeownership with a mortgage refinance.

Nicole and her husband Sam have found that support from Lake Trust has been pivotal in reaching their financial and life goals. From auto loans to estate planning, their Lake Trust membership has enabled them to find the solutions they’ve needed to succeed during every stage of life.

After living in their home for a few years, Sam and Nicole decided it was time to refinance their mortgage to a shorter term to work toward their goal of paying it off early. But they dreaded going through the mortgage process again.

“I’ve had mortgages through large banks, and the experience was awful. They sold my mortgage to another underwriter. And this new bank would call me asking to prove that I had homeowners’ insurance and all this other paperwork that I had already provided to the original lender. And I got quite tired of that,” Sam shared.

Recalling the many positive experiences they’d had with Lake Trust, Nicole and Sam decided to try the credit union and their partners at Mortgage Center for the refinance. And this turned out to be a great decision. The process went smoothly. And later, the couple did end up reaching their goal of paying off their home.

“The day we paid off the mortgage, it meant to me that we accomplished one of our long-standing goals, and it gave us a sense of security,” said Sam.

Nicole echoed: “In running a small business, there are so many unknowns. It's such a peace of mind to know that this is paid for. We'll always have a roof over our head, no matter what else is going on in the world.”

Why is a credit union different?

In addition to the positive experiences with Lake Trust, Nicole and Sam have continued to turn to the credit union for their financial needs because keeping their money local matters.

“I think that it's important that we try to keep money here and help our neighbors. When you spend your money here, you're helping your neighbor, who will spend their money here to help you,” said Sam.

Nicole echoed this sentiment, “Plus, as a small business owner, I feel like I'm relying on the community for my own business. And so, it's important for me to support my neighbors in the same way. And I really appreciate that Lake Trust is kind of a full circle. The money is just staying right here.”

The philosophy of people helping people is one reason Nicole believes her business has seen so much organic growth over the years. She feels Michigan has a strong creative community filled with people who truly want to see others succeed. She gave an example of one of the first shows she went to in Ferndale, where she sold her art. Other vendors consistently checked in on her and shared resources, like lending her lights for her booth or making change for patrons paying with cash, to help her have a successful weekend.

Sharing her illustrations in Michigan and beyond.

Through her artist community and the projects she’s done, Nicole has supported other women-owned small businesses, both locally and across the country. And one of her favorite projects took place right in Downtown Brighton.

The owners of 2 Dandelions Bookshop approached Nicole to illustrate the storefront after expanding. Nicole then turned her illustration into a puzzle (she’s a big puzzle fan), which the store still sells today.

As a small business owner, every day is different for Nicole. And this is part of what she loves about her work. Whether she’s working with her office manager to fulfill orders, updating her social media pages, or coming up with new ideas for an illustration, she finds fulfillment in growing Sloe Gin Fizz. And with a supportive financial partner by her side, she’s able to take strategic risks and explore the power of her creativity.

There’s joy and whimsy in the ordinary. Sometimes it just takes the eye of an artist to help us see it.

How Financial Wellbeing Empowers Artist Nicole Ray

How an Ann Arbor book festival sparked inspiration.

How an Ann Arbor book festival sparked inspiration.

Getting a small business loan to see a project through.

Getting a small business loan to see a project through.

Supporting their dreams of homeownership with a mortgage refinance.

Supporting their dreams of homeownership with a mortgage refinance.

Why is a credit union different?

Why is a credit union different?

Sharing her illustrations in Michigan and beyond.

Sharing her illustrations in Michigan and beyond.

Just a powerful community.

Lake Trust is honored to be a Forbes Best-In-State Credit Union.

You are now leaving the Lake Trust website.