Katelyn Beaver, the founder of Beavers Lures in Escanaba, has recently received a $10,000 grant from the Federal Home Loan Bank of Indianapolis (FHLBI) through the Elevate Grant Program. The grant was made possible through the partnership with Upper Peninsula State Bank.
Beavers Lures, which was founded in 2020, is a unique hand-made fishing lure business that has experienced significant growth. The lures are individually airbrushed and hand-assembled in small batches to ensure high quality. They 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 funding, Beaver plans to update her shop and streamline production processes to further expand her business. She expressed 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 this program reflects their focus on improving the Upper Peninsula community and building strong relationships with small business owners like Katelyn Beaver.