Boston Beer Company is expanding their Brewing The American Dream program nationally. Brewing the American Dream provides loans and industry-specific coaching, mentoring, and educational resources to business owners who find it difficult to access the capital and guidance needed to sustain and grow their businesses.The national expansion will target at least $1 million in new loans, across the United States. Boston Beer is also introducing a new Online Community, giving small businesses access to online resources in the food/beverage/hospitality segment. The site wil provide access to unparalleled resources to help them succeed.
The beer brewer has partnered with Accion, a microlender. To date, over $1 million has been loaned to over 150 businesses with a reported very low default rate.
“What differentiates Brewing the American Dream is the combination of loans and hands-on education,” said Jim Koch, brewer and founder of Samuel Adams. “Working with Accion, we identify small business applicants who are often viewed as too risky by traditional banks — yet at the forefront of job creation and growth within their local communities — and where a relatively modest loan can have a meaningful impact. From there, we get down in the trenches with them through one-on-one mentoring and coaching to help them grow their businesses.”