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SOURCE Samuel Adams
Partners Will Host Speed Coaching Event in August
CINCINNATI, July 15, 2014 /PRNewswire/ -- Samuel Adams today named Ohio's Economic and Community Development Institute (ECDI) its official lending partner in Cincinnati for Samuel Adams Brewing the American Dream, a micro-lending and coaching program for food, beverage, craft brewing and hospitality small businesses across the country. ECDI has been the program's lending partner in Columbus since 2012.
The expanded partnership with ECDI enables more small business owners in Cincinnati and throughout Ohio to access vital capital. The program has already provided nearly $100,000 in microloans to entrepreneurs throughout the state, and is now looking to expand that support through its collaboration with ECDI.
As part of the new partnership, Samuel Adams Brewing the American Dream and ECDI will also co-host the program's signature Speed Coaching in Cincinnati on Monday, August 4th. Designed to provide expert, personalized business advice, Speed Coaching offers attendees the opportunity to participate in up to six 20-minute, high-impact coaching sessions with Samuel Adams and ECDI experts as well as local business professionals with expertise in areas such as sales and distribution, packaging, finance and marketing.
The Speed Coaching event will be held from 5:30 – 8:00 p.m. EDT at Findley Market, 1801 Race St, Cincinnati. Small business owners can register for this free event online at http://btadcincy.eventbrite.com. Participants are encouraged to bring samples of packaging, product and other items on which they seek feedback, and should also come prepared with questions regarding specific challenges their businesses are facing. For example, a small business owner may want to ask a finance professional for advice on how to competitively price his or her product.
"Small businesses are so important to our economy, but running a small business is not easy," said Jim Koch, Samuel Adams brewer and founder. "We look forward to helping more passionate entrepreneurs through our Samuel Adams Brewing the American Dream program, and are excited and eager to help more Ohio small businesses in particular through our expanded partnership with ECDI."
Financing Options When Traditional Lenders Say 'No'
Samuel Adams Brewing the American Dream microloans typically range from $500-$25,000, and often help small businesses that traditional lenders won't work with given the small size of the loans. These microloans, however, can make a macro difference for up-and-coming businesses. One such example is Cincinnati's Colonel De Gourmet Herbs & Spices. Owners Susan and DeWayne Stewart turned to the Samuel Adams Brewing the American Dream program for funding assistance to purchase a grinder, which would allow them to buy wholesale spices. This lowered the Stewarts' cost of goods sold, and helped their Findlay Market shop expand to more than 900 square feet for showcasing 500+ culinary herb spices.
"It's unique programs like Samuel Adams Brewing the American Dream that help Ohio's small business owners overcome the challenges they often face when dealing with traditional lenders," said Inna Kinney, ECDI Founder & CEO. "We're thrilled to expand our partnership with Samuel Adams from Columbus and Cleveland markets into the Cincinnati area to help even more small business owners succeed by accessing critical financing and coaching."
Samuel Adams Brewing the American Dream Inspiration and Impact
Thirty years ago, Jim Koch, armed with a generations-old family beer recipe, dreamed of starting his own craft brewery. He applied for bank loans to help him do so, but was repeatedly turned down. He also lacked the nuts-and-bolts know-how that's so important to running a small business. But Jim didn't give up. He took his beer bar to bar – selling it out of his briefcase – and made his dream a reality.
As Samuel Adams celebrates its 30-year anniversary, Jim hasn't forgotten how hard it is to start and run a successful small business. That's why he created Samuel Adams Brewing the American Dream, a unique program that provides the two things he wishes he had when starting Sam Adams: financing and real-world business advice. Since its creation in 2008, the program, in partnership with Accion, the nation's leading nonprofit provider of small business capital and coaching, has coached more than 4,000 small business owners, provided over $3 million in microloans to more than 350 small businesses, and helped create or retain more than 2,000 jobs. The program has also seen an unprecedented loan repayment rate of 98.1 percent. To learn more about the program, please visit: http://btad.samueladams.com/.
Samuel Adams, Sam Adams, Samuel Adams Boston Lager, and Samuel Adams Brewing the American Dream are registered trademarks of The Boston Beer Company.
About Samuel Adams and The Boston Beer Company
The Boston Beer Company began in 1984 with a generations-old family recipe that Founder and Brewer Jim Koch uncovered in his father's attic. Inspired and unafraid to challenge conventional thinking about beer, Jim brought the recipe to life in his kitchen. Pleased with the results of his work, Jim decided to sample his beer with bars in Boston in the hopes that drinkers would appreciate the complex, full-flavored beer he brewed fresh in America. That beer was aptly named Samuel Adams Boston Lager, in recognition of one of our nation's great founding fathers, a man of independent mind and spirit. Little did Jim know at the time, Samuel Adams Boston Lager soon became a catalyst of the American craft beer revolution.
Today, The Boston Beer Company brews more than 50 styles of beer. It relentlessly pursues the development of new styles and the perfection of classic beers by searching the world for the finest ingredients. Using the traditional four vessel brewing process, the Company often takes extra steps like dry-hopping, barrel-aging and a secondary fermentation known as krausening. The Company has also pioneered another revolution, the 'extreme beer' movement, where it seeks to challenge drinker's perceptions of what beer can be. The Boston Beer Company has been committed to elevating the image of American craft beer by entering festivals and competitions around the globe, and is one of the world's most awarded breweries at international beer competitions. As an independent company, brewing quality beer remains its single focus. Although Samuel Adams beer is America's largest-selling craft beer, it accounts for only one percent of the U.S. beer market. The Boston Beer Company will continue its independently-minded quest to brew great beer and to advocate for the growth of craft beer across America. For more information, please visit www.samueladams.com.
Founded in 2004 by Inna Kinney, Founder & CEO and Steve Fireman, President & General Counsel, ECDI is a Columbus, Ohio-based 501(c)(3) non-profit economic development organization. As the 4th largest U.S. Small Business Administration microlender in the country, ECDI's mission is to invest in people to create measurable and enduring social and economic change. Since 2004 ECDI has assisted more than 2,250 business owners and created over 4,500 jobs via our comprehensive suite of programs available through our offices in Columbus, Cleveland and Toledo, Ohio. Our programs and services have been supported by over $40 million in federal, state, local and private funds and have proven to create jobs, increase access to assets and spur local economic development. How do we do this? We Invest, Educate and Innovate with the businesses and people we inspire. For more information visit ecdi.org
About Accion in the U.S.
In seeking a partner for Samuel Adams' Brewing the American Dream the company turned to Accion to facilitate lending to hardworking business owners seeking to grow. As the largest nationwide micro-and small business lending network in the United States, Accion connects small business owners with the accessible financing and advice it takes to create or grow healthy businesses. Since 1991, the five members of the Accion U.S. Network have collectively made over 50,000 loans, totaling over $406 million.
Additionally, over 400,000 business owners across the nation have turned to Accion for financial and business advice via workshops, online tools, and one-on-one consultations. Globally, Accion (www.accion.org) is a pioneer in microfinance, reaching millions of individuals through its international network of partners. For more information visit us.accion.org.
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