Small Business Startup News
Samuel Adams Expands Small Business Lending Initiative
Written by Jenna Weiner
Published: 4/5/2011
Brewer Samuel Adams is taking its loan program to New York City entrepreneurs.
While a Samuel Adams beer may be a go-to drink for the after-work crowd, the company is usually not featured in business news for entrepreneurs.
However, the company recently announced that it would be expanding its Samuel Adams Brewing the American Dream program to New York City food, beverage and hospitality entrepreneurs as well as craft brewers nationwide.
The program will provide recipients with anywhere between $500 and $25,000 in funds to be used for anything from expansion plans to equipment and marketing as well as one-on-one coaching with business experts.
"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.
Launched in 2008, the program has approved loans for more than 50 startups, averaging $10,000 per loan.
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