The Valparaiso-based Regional Development Company highlighted its 2024 achievements and honored top lenders at its annual meeting.
The Regional Development Company supports small business growth by administering the U.S. Small Business Administration’s 504 Loan Program.
The Regional Development Company had 21 loans approved by the U.S. Small Business Administration, bringing $13.4 million in funding to local companies. Of those loans, seven were to women-owned businesses, four were to minority-owned businesses and three were to rural businesses.
The Regional Development Company partners with local banks to finance large capital projects. The organization funded 16 loans in 2024, bringing $38 million of capital investment into communities and helping create 146 jobs in Indiana and Illinois.
The Regional Development Company recognized its top referring lenders at the event.
Honorees include:
- Bank of the Year: Peoples Bank
- Lender of the Year: Mike Smith – Sterling Federal
- Individual Lender: Dan Duncan – Peoples Bank
- Individual Lender: Caleb Walma – First Merchants Bank
- Millionaires Club:
- Tony Bewsey – Forum Credit Union
- Stephanie Dunn – Grasshopper Bank
- Paul Orner – First Merchants Bank
- Mike Smith – Sterling Federal Bank
- Ron Knestrict – Peoples Bank
- Supporter of the Year: Jaclyn Chubinski – First Merchants Bank
The organization also honored Bob Esquivel, retiring U.S. Small Business Administration lender relations chief, with a Recognition of Outstanding Partnership award.
The Regional Development Company marked its 30th anniversary with a celebration of key achievements. Since its inception, the organization has funded 800 loans, generated $900 million in capital investment and helped create 16,000 jobs.
“The RDC is thrilled to have been a vital part of the community for 30 years, providing business owners with the capital they need and helping make their dreams come true,” said Erica Dombey, RDC president, in a press release.
Dombey expressed gratitude for the support of local banks, contractors, real estate brokers, chambers and economic development professionals.
“It truly takes a village to create growth, jobs and capital investment,” Dombey said.
The board of directors elected its 2025 officers:
- Steve Kring, Horizon Bank, chair
- Tony Peuquet, Chester, Inc, vice chair
- Rex Richards, Valparaiso Economic Development Corp., secretary
- Mike Riehle, La Porte Economic Advancement Partnership, treasurer
- Matt Saltanovitz, past chair
“I couldn’t be prouder of the entire staff and board for another year of making dreams come true, locally,” Saltanovitz said in a press release. “The work that the RDC does is truly impactful. It can mean the difference of whether a small business owner can take that crucial next step.”
