As I was thumbing through the internet looking for news related to brewing I stumbled across this interesting article about a small brewery in Milwaukee that got a huge loan from the government. http://www.biztimes.com/manufacturingweekly/2010/10/11/
At first I thought it was not just a normal SBA loan and it was some sort of fancy sounding bank loan, but behold, it was indeed a Small Business Administration loan. And, for $1.4 million dollars no less!
Getting a loan of that size for a small business was not even something that I thought was possible before I read about the Lakefront Brewery’s success. I read that it is thanks to a new SBA program that President Obama put in place only several weeks ago. That is the fastest I think the government has ever worked, ever!
I guess they used most of the money to refinance existing debt but some of it was used to make a new reception room for brewery tours and install a new whirlpool for beer clarification. Its really nice to see that the SBA is doing big things for small businesses like Lakefront and I hope that when it comes time for me to get a loan for my brewery there will be programs like this to help me out too.
I have never had the opportunity to try Lakefront’s beer but I am going to do my best to find some here in Michigan.
Cheers!
