The Regional Development Co. celebrated its accomplishments and elected a new slate of officers.
The Valparaiso-based organization hosted its annual membership meeting Nov. 9 at Byway Brewing. They honored individuals and entities that supported their mission. The Regional Development Co. makes loans under the U.S. Small Business Administration’s 504 Loan Program.
“This year, the RDC continued to forge ahead with its mission of ‘making dreams come true’ for entrepreneurs across the Region,” said Matt Saltanovitz, board chairman, in a press release. “When we support small businesses, we are supporting the lifeblood of our communities.
This year the RDC had 12 loans, totaling $19 million, approved by the U.S. Small Business Administration. The loans supported five women-owned businesses, two minority-owned businesses, one veteran-owned business and three rural businesses.
The company partners with local banks to provide business financing for large capital projects. This year they helped bring $25 million of capital investment into communities, creating 107 jobs in Indiana and Illinois. During the annual meeting, the RDC honored their top lenders.
The honorees included:
- Bank of the Year: Centier Bank
- Lender of the Year: Tim Warner of Horizon Bank; Bill Gertner of Horizon Bank
- Inductees into the Millionaires Club (lenders referring loans of $1 million or more): Dan Duncan and Ron Knestrict of Peoples Bank
- Support Person of the Year: Laura Holesapple of Centier Bank
“At Centier Bank, we believe that our success is directly tied to the success of the businesses we support,” Warner said in a press release. “By providing financial solutions and fostering growth, we are not only enriching the lives of our community members but also playing a pivotal role in creating new job opportunities, strengthening our local economy, and ensuring a brighter future for all.”
Holesapple was the first to receive the Support Person of the Year award.
“The RDC created this award to recognize the unsung heroes behind the scenes that make the loan transactions run smoothly,” said Erica Dombey, president and executive director of the RDC. “The winners will be chosen by the RDC staff, and Laura was the first person they thought (to) recognize; she exemplifies excellent customer service and dedication to her clients.”
The RDC’s board of directors elected the 2023 slate of officers and new board members at the meeting.
The officers included:
- Chair: Matt Saltanovitz, Indiana Economic Development Corp.
- Vice chair: Steve Kring, Horizon Bank
- Secretary: Rex Richards, Valparaiso Economic Development Corp.
- Treasurer: Mike Riehle, La Porte Economic Advancement Partnership
- Past chair: Mike Schneider, Wintrust Bank
- Board member: Anthony Sindone, economics and business professor at Purdue University Northwest
- Board member: Anne Taylor, executive director of planning and development for the city of Hammond
- Board member: Mark Oganovich, senior vice president of business development with Old National Bank
The RDC was established in 1994. It has funded more than 500 loans, creating over 6,500 jobs and over $500 million in capital investment throughout Indiana and Illinois. The nonprofit has donated more than $250,000 cash to local economic development and small business initiatives.
Caption: Tim Spoelman, Centier Bank business banking officer; Tom Wilk, Centier Bank chief lending officer; Tim Warner, vice president of business banking; and Greg Gordon, SVP of business banking at Centier Bank. (Provided by Centier Bank)
