Upper Peninsula State Bank Helps Local Business Owner Secure Grant for Expansion
Escanaba, MI – Katelyn Beaver, owner of Beavers Lures in Escanaba, recently received a $10,000 grant through the Federal Home Loan Bank of Indianapolis (FHLBI) Elevate Grant Program, with the assistance of Upper Peninsula State Bank. The grant is aimed at supporting small businesses and their communities, and Beaver plans to use the funds to enhance her fishing lure business.
Beavers Lures, founded in 2020, has experienced significant growth and is now available in 54 Meijer stores across Michigan, as well as other retail locations and online. Each lure is hand-made and individually airbrushed, ensuring high quality and uniqueness. With the grant money, Beaver intends to make improvements to her shop and streamline production processes.
Expressing her gratitude for the support from Upper Peninsula State Bank and the FHLBI, Beaver stated, “With their support through the Elevate Grant program, I can continue to further my goal of securing contracts with bigger retailers and sharing our lures with even more avid fishermen.”
David Williams, President and CEO of Upper Peninsula State Bank, highlighted the importance of programs like the FHLBI Elevate Grant in strengthening communities. “As a member of the FHLBI, we are very pleased to leverage these opportunities to improve our communities and strengthen relationships. It’s good for the Upper Peninsula, and that’s our focus,” Williams said.
The partnership between Upper Peninsula State Bank and local businesses like Beavers Lures demonstrates a commitment to supporting small businesses and fostering economic growth in the region.