The Regional Development Company recognized top lenders during its annual membership meeting Nov. 6, at Byway Brewing Co. in Hammond.
The Valparaiso-based nonprofit Certified Development Company administers the U.S. Small Business Administration 504 Loan Program. It helps businesses expand through long-term, fixed-rate commercial financing. In 2025, the RDC achieved a $113 million portfolio balance, reflecting the organization’s growing impact across Indiana and Illinois.
The RDC had 22 loans for $22.3 million approved by the SBA, including nine women-owned, five minority-owned, two rural and seven revitalization businesses. RDC-approved projects brought $62.9 million in capital investment and helped create over 121 jobs.
The RDC recognized its top referring lenders at the awards ceremony. Awards included:
- Bank of the Year – Purdue Federal Credit Union
- Lender of the Year – Ivy McMurtrey, Peoples Bank
- Lender of the Year – Jon DeSmet, Purdue Federal Credit Union
- Supporter of the Year – Phil Ignarski, Meridian Title Corp.
“This was a milestone year,” said Erica Dombey, president, in a press release. “Reaching $113 million in our portfolio while honoring partners like Purdue Federal Credit Union shows the strength of our collaboration and the positive impact the SBA 504 Loan Program has on businesses.”
The RDC board also welcomed new members Gil Rynberk of Wintrust Bank and Tim Spoelman of Centier Bank. The nonprofit elected 2026 officers: Steve Kring of Horizon Bank, chair; Nick Larsonof Larson-Danielson Construction, vice chair; Rex Richards of the Valparaiso Economic Development Corp., secretary; Mike Riehle of the La Porte Economic Advancement Partnership, treasurer; and Matt Saltanovitz, Indiana Economic Development Corp., past chair.
“Year after year, the staff and board of directors renew their commitment to making dreams come true,” Dombey said. “We’re excited to continue connecting businesses to the capital they need to grow.”
