Katelyn Beaver, founder of Beavers Lures, a unique hand-made fishing lure business based in Escanaba, has received a $10,000 grant from the Federal Home Loan Bank of Indianapolis (FHLBI) Elevate Grant Program. The grant was facilitated by Upper Peninsula State Bank, which assisted Beaver in applying for and receiving the funds.
Beavers Lures was founded in 2020 and has experienced significant growth due to its high-quality handmade lures that are individually airbrushed and assembled in small batches. 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 her business.
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.