VALPARAISO, Ind- The Regional Development Company (RDC), based in Valparaiso, IN, highlighted its 2024 achievements and recognized top lenders at its Annual Membership Meeting on November 7, 2024 at Byway Brewing in Hammond, IN. As a non-profit and Certified Development Company (CDC), RDC 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, which brought a total of $13.4 million in U.S. Small Business Administration 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 banking institutions to provide business financing for large capital projects. The Regional Development Company funded 16 loans in 2024, helping bring $38 million of capital investment into communities, and was a catalyst in the creation of 146 jobs in the states of Indiana and Illinois. 

The RDC recognized its top referring lenders at the awards ceremony, with Peoples Bank earning the title of Bank of the Year after referring four loans totaling $3,507,000. In the individual lender categories, Mike Smith of Sterling Federal was named Lender of the Year, referring $2,210,000 in loans, followed by Dan Duncan of Peoples Bank in second place with $1,749,000, and Caleb Walma of First Merchants Bank in third with $1,481,000. All three received cash prizes for their outstanding performance.  

In addition, The RDC also inducted a select group of lenders into its Millionaires Club, an exclusive group for those referring to $1 million or more in loans. New members include Tony Bewsey of Forum Credit Union, Stephanie Dunn of Grasshopper Bank, Paul Orner of First Merchants Bank, Mike Smith of Sterling Federal Bank, and Ron Knestrict of Peoples Bank. In addition, Jaclyn Chubinski of First Merchants Bank was also honored with the Supporter of the Year award, which recognizes exceptional contributions from non-sales roles. 

This year, the RDC marked its 30th anniversary with a celebration of key achievements. Since its inception, RDC has funded 800 loans, generated $900 million in capital investment, issued $326 million in 504 debentures, and helped create 16,000 jobs. On his upcoming retirement, the organization also celebrated Bob Esquivel, Lender Relations Chief at the Illinois District U.S. Small Business Administration, honoring him with a Recognition of Outstanding Partnership award. The event also featured remarks from Eric Armacost, Lender Relations Chief at the Indiana District U.S. Small Business Administration. 

"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.  “We’d like to thank our partners for success, including our local banks, contractors, real estate brokers, chambers, and economic development professionals.  It truly takes a village to create growth, jobs, and capital investment.  We look forward to more exciting things to come in 2025.” 

The Board of Directors elected the 2025 slate of officers, which included, Steve Kring, Horizon Bank, as Chair; Tony Peuquet, Chester, Inc., as Vice Chair; Rex Richards, Valparaiso Economic Development Corporation, as Secretary; Mike Riehle, LaPorte Economic Advancement Partnership, as Treasurer; and Matt Saltanovitz, as Past Chair. 

“I couldn’t be prouder of the entire staff and board for another year of making dreams come true, locally. 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,” said Matt Saltanovitz, board chair of RDC. 

For more information about the Regional Development Company or the U.S. SBA 504 Loan Program, please call the Regional Development Company at 219-476-0504 (Indiana) or 708-960-3177 (Illinois) or visit www.rdc504.org 

About RDC
Regional Development Company (RDC) is a Certified Development Company (CDC) licensed by the U.S. Small Business Administration (SBA). We specialize in the SBA 504 loan program, offering direct lending services to small businesses. From processing to funding, RDC is your trusted partner for accessible and efficient financing solutions.