Purdue Federal Credit Union Named Bank of the Year by the Regional Development Company
Valparaiso, Ind. - The Regional Development Company (RDC), celebrated record growth and recognized top lenders during its Annual Membership Meeting on Nov. 6 at Byway Brewing Company in Hammond, IN
The Valparaiso-based non-profit Certified Development Company administers the U.S. Small Business Administration (SBA) 504 Loan Program, helping businesses expand through long-term, fixed-rate commercial financing. In 2025, the RDC achieved a record-breaking $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. Overall, 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, with Purdue Federal Credit Union earning Bank of the Year after referring one loan for $2.6 million. In the individual awards category, Ivy McMurtrey of Peoples Bank was named Lender of the Year for number of loans, referring two loans to the RDC. Jon DeSmet of Purdue Federal Credit Union won Lender of the Year for the highest dollar amount at $2.6 million. In addition, Phil Ignarski of Meridian Title Corporation won Supporter of the Year.
"This was a milestone year,” said Erica Dombey, president. “Reaching $112.9 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, and elected 2026 officers: Steve Kring of Horizon Bank, chair; Nick Larson of Larson-Danielson Construction., vice chair; Rex Richards of the Valparaiso Economic Development Corporation, secretary; Mike Riehle of the La Porte Economic Advancement Partnership, treasurer; and Matt Saltanovitz, Indiana Economic Development Corporation, past chair.
“Year after year, the staff and Board of Director renew their commintment to making dreams come true.” said Dombey, president. “We’re excited to continue connecting businesses to the capital they need to grow.”
For more information about the Regional Development Company or the U.S. Small Business Administration 504 Loan Program, please call the Regional Development Company at 219-476-0504 (Indiana) or 708-960-3177 (Illinois) or visit www.rdc504.org