Samuel Adams helps small craft brewers
The initiative is part of the company's Samuel Adams Brewing the American Dream program, which supports small-business owners in the food, beverage and hospitality industry by providing accessible financing, as well as business and financial literacy tools and assistance.
Small brewers nationwide can apply for loans ranging from $500 to $25,000 to be used for a variety of business purposes including expansion, equipment, and marketing, with all loan payments recycled back into the fund.
Launched in June 2008 in partnership with Accion USA, not-for-profit micro-lenders, the broader initiative has loaned $540,000 to more than 60 businesses with the goal of reaching $1 million by the end of 2011.
"Our goal with the craft brewing component of Brewing the American Dream is to support small-business owners in our niche of the industry who are facing the same hurdles around starting or expanding their nano or microbrewery that I faced when I started brewing Samuel Adams in my kitchen in 1984," said Jim Koch, brewer and founder of Samuel Adams, in a statement.
Samuel Adams also will offer one select brewer the chance to receive a year-long "Brewing & Business Experienceship." Designed to focus on different aspects of the beer business, the Experienceship will provide the up-and-coming brewer extended coaching tailored around his or her specific areas of interest from Samuel Adams employees.