Katelyn Beaver, owner of Beavers Lures in Escanaba, recently received a $10,000 grant from the Federal Home Loan Bank of Indianapolis (FHLBI) Elevate Grant Program. Upper Peninsula State Bank assisted her in applying for and receiving the grant. The program aims to support small businesses, their workforce, and the communities they serve.
Beavers Lures is a hand-made fishing lure business that was founded in 2020. Their lures are individually airbrushed and assembled by hand in small batches to ensure high quality. They are sold in 54 Meijer stores across Michigan, as well as at L&M Fleet, Jay’s Sporting Goods, local lure shops, and online. Beaver plans to use the grant funds to update her shop and streamline production processes to further expand her business.
Beaver expressed gratitude for the support and partnership with Upper Peninsula State Bank in securing the grant. 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.