Here is your second dose of Sam Adams related news…..
“(Boston, MA) – Samuel Adams today announced that it is expanding its philanthropy initiative, Samuel Adams Brewing the American Dream, to home brewers and small craft brewers nationwide. Focused on helping up-and-coming brewers turn their passion for beer into successful businesses, the program will target funding of at least $100,000 to the craft brewing industry in 2011.
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, one of the country’s top not-for-profit micro-lenders, the broader initiative has already loaned $540,000 to over 60 businesses – largely in New England – with the goal of reaching $1,000,000 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.”
It is actions like this that make me continue to write about and drink craft beer. What other industry helps out possible competitors like this? And they spent most of the fund money in their own backyard!