Upper Peninsula State Bank Helps Local Small Business Owner Secure Elevate Grant for Beavers Lures

Upper Peninsula State Bank Helps Local Small Business Owner Secure Grant for Expansion

Escanaba – Upper Peninsula State Bank recently assisted local small business owner Katelyn Beaver in securing a $10,000 grant through the Federal Home Loan Bank of Indianapolis (FHLBI) Elevate Grant Program. The program aims to support the growth and development of small businesses, their workforce, and the communities they serve.

Beaver, the owner of Beavers Lures in Escanaba, a hand-made fishing lure business, plans to use the grant funds to make necessary updates to her shop and streamline her production process. Since its founding in 2020, Beavers Lures has experienced significant growth and is now sold in 54 Meijer stores across Michigan, as well as other retailers and online.

“I was thrilled to partner with Upper Peninsula State Bank and the FHLBI to receive this grant,” Beaver said. “With their support, I can continue to expand my business and reach more customers.”

President and CEO of Upper Peninsula State Bank, David Williams, emphasized the importance of programs like the FHLBI Elevate Grant in supporting local businesses and communities. “We are proud to be a member of the FHLBI and to help businesses like Beavers Lures thrive and grow,” Williams said.

The grant will enable Beaver to make important investments in her business and pursue contracts with larger retailers, furthering her goal of sharing her high-quality lures with a wider audience of fishermen.

For more breaking news and updates, subscribe to our newsletter today.