Provided photo Upper Peninsula State Bank Senior Vice President Eric Lundin and Beaver's Lures Owner Caitlin Beaver.
ESCANABA — Upper Peninsula State Bank, a member of the Federal Home Loan Bank of Indianapolis (FHLBI), recently promoted FHLBI's Elevate Grant program to local small business owner Caitlin Beaver. The bank helped her through the process of applying for and obtaining her funding. Elevate is a small business grant program that helps small businesses, their employees, and the communities they serve grow and develop. To apply, business owners must partner with a participating bank, such as Upper Peninsula State Bank.
Beaver received a $10,000 grant to use for his Escanaba business, Beaver's Lure. Beavers Lures is a unique handcrafted fishing lure business where each lure is individually airbrushed and assembled by hand in small batches to ensure the highest quality. Founded in 2020, Beavers Lures has grown significantly and now operates at 54 of his Meijer stores throughout Michigan, L&M Fleet, Jay's Sporting Goods, local lure shops, and online at www.beaverslures.com It's on sale. Beaver plans to use the grant to make necessary updates to his current shop and streamline his production process.
“We are thrilled to partner with Upper Peninsula State Bank as an FHLBI member to make this possible.” Beaver said. “Their support through the Elevate Grant Program will enable me to secure contracts with major retailers and further my goal of sharing lures with more passionate fishermen.”
David Williams, President and CEO of Upper Peninsula State Bank, commented on the FHLBI Elevate Grant Program. “As members of the FHLBI, we are excited to take advantage of these opportunities to improve our community and strengthen our relationships. It is good for the Upper Peninsula and that is our focus. .”
