Local Entrepreneur Katelyn Beaver’s Hand-Made Fishing Lure Business Expands with $10,000 Elevate Grant from Federal Home Loan Bank of Indianapolis and Upper Peninsula State Bank Partnership
In 2020, Katelyn Beaver founded Beavers Lures, a unique hand-made fishing lure business that has experienced significant growth. 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.
Beaver recently received a $10,000 grant from the Federal Home Loan Bank of Indianapolis (FHLBI) Elevate Grant Program through the assistance of Upper Peninsula State Bank. The grant aims to support the growth and development of small businesses, their workforce, and the communities they serve. To apply for the grant, business owners must partner with a member bank like Upper Peninsula State Bank.
Beaver plans to use the grant funds 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.
David Williams, President and CEO of Upper Peninsula State Bank, 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.
