Katelyn Beaver, founder of Beavers Lures, recently received a $10,000 grant from the Federal Home Loan Bank of Indianapolis (FHLBI) Elevate Grant Program, with assistance from Upper Peninsula State Bank in Escanaba. The bank played a key role in helping Beaver apply for and receive the grant, which aims to support the growth and development of small businesses, their workforce, and the communities they serve.
Beavers Lures is a unique hand-made fishing lure business that has experienced significant growth since its founding in 2020. Their lures are individually airbrushed and hand-assembled in small batches to ensure high quality. The lures are sold in 54 Meijer stores across Michigan, as well as in L&M Fleet, Jay’s Sporting Goods, local lure shops, and online. With the grant funds, Beaver plans to update her shop and streamline production processes to further expand the business.
Katelyn Beaver expressed her gratitude for the support and partnership with Upper Peninsula State Bank in securing the grant and continuing to grow her business. President and CEO of Upper Peninsula State Bank, David Williams, highlighted the bank’s role as a member of the FHLBI and their commitment to leveraging opportunities like the Elevate Grant Program to benefit the community.
The bank’s involvement in the program reflects their focus on improving the Upper Peninsula community and building strong relationships with small business owners like Katelyn Beaver.