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Oxford Bank Awards FHLBank Indianapolis Elevate Grants to Diverse Group of Small Businesses

May 05, 2023, 06:00 AM
Filed Under: Banking News

Oxford Bank Corporation, the holding company for Oxford Bank, awarded small business grants to four local businesses in Michigan through the Federal Home Loan Bank of Indianapolis Elevate Grant program.
Elevate is an innovative grant program that awards up to $20,000 to assist the growth and development of local small businesses, their workforces, and the communities where they are located. As an FHLBank Indianapolis member, Oxford Bank awards this grant each year to a select number of eligible recipients.

“We are honored to be part of this unique effort in our partnership with FHLBank Indianapolis,” says David P. Lamb, Oxford Chairman, President & CEO. “We share a deep commitment to our local communities and to the growing number of small businesses that we serve and support through our strong customer relationships and value-driven services.”

Oxford Bank awarded Elevate grants to the following businesses:

  • Andrew Kopietz LLC, DBA Good Done Daily (Hamtramck, MI) – an independent graphic design practice that helps people drive social, civic and place-based change
  • Brewery Faisan (Detroit, MI)– a Detroit-based microbrewery that produces high-quality, Belgian-inspired craft beer that can purchased by the can or at the Detroit taproom
  • Cultured Ferments Company/Cultured Kombucha Co. (Traverse City, MI) – a certified organic and vegan microbrewery that specializes in handcrafted, authentically fermented kombucha
  • DL Kusky Services LLC (Flint, MI) – a vendor for the Social Security Administration and the State of Michigan that offers employment services to disabled and low-income customers, including job placement, readiness training, coaching and work-based learning experiences

Serving a variety of markets and communities throughout Michigan, this diverse group of grant recipients plans to use their grant funds to meet various business needs and goals, including new software and technology updates, equipment automation and specialized workforce training.
“Small businesses play a vital role in our communities by providing products and services that meet a variety of local needs,” says MaryBeth Wott, SVP Community Investment & Underwriting Collateral Operations Officer at FHLBank Indianapolis, “The Elevate grant allows FHLBank Indianapolis to partner with member financial institutions like Oxford Bank to support these small businesses. Together, we provide a boost to help make their visions a reality.”

She adds, “Not only does this grant help businesses reach their goals, but often it helps create more job opportunities within their communities. It’s really a win all around.”

Small businesses in Indiana or Michigan may apply for an Elevate grant annually by partnering with an FHLBank Indianapolis member to submit the application. Recipients can use up to $20,000 of Elevate grant funds for capital expenditures, workforce training, or a variety of other needs. A maximum of $5,000 can go toward working capital expenses.

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