Samuel Adams Expands Small Business Program
BOSTON -- The Boston Beer Co. has brought its Samuel Adams "Brewing the American Dream" program to the national stage. The program provides loans and industry-specific coaching, mentoring, and education resources to food and beverage small business owners, including convenience stores.
The program has previously only been available in a few regions; however, the 2012 national expansion of Brewing the American Dream will target at least $1 million in new loans, expanded for the first time to recipients across the country. The nationwide rollout also launches the new Brewing the American Dream Online Community, the first online resource to provide small business owners in the food, beverage, and hospitality sector with a comprehensive platform of tools to help their businesses succeed.
Working in partnership with microlender Accion, Brewing the American Dream has provided more than $1 million in micro-financing to nearly 150 businesses, and created or saved nearly 1,000 jobs, according to a Boston Beer Co. release. Food, beverage, craft brewing and hospitality small business owners 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.
"Our goal is to work with the true small businesses that are often viewed as too risky by traditional banks -- yet at the forefront of job creation and growth within their local communities -- and where relatively modest loans and one-one-one coaching can have a meaningful impact," said Jim Koch, brewer and founder of Samuel Adams.
Koch noted that what differentiates Brewing the American Dream is the combination of funding and hands-on education, and that since the program began a few years ago nearly 3,000 small business owners focused on food, beverage, craft brewing and hospitality have been supported through one-on-one coaching and advising.
"It's extremely important to have resources like Brewing the American Dream that can fill the education gap that's so critical to small businesses success," added Gina Harman, president and CEO of Accion's U.S. Network. "The program has an outstanding track record, and now that it will be available nationwide, there's no question it will continue to have a significant impact on small business growth and success."