From Samuel Adams:
MIAMI, March 15, 2013 /mbb/ -- The Boston Beer Company today announced that its Samuel Adams Brewing the American Dream program will host its first annual speed coaching event in South Florida in partnership with micro-lender Accion. With a focus on small businesses related to food, beverage, craft brewing, and hospitality, the program uniquely combines financing with hands-on coaching and mentoring to help entrepreneurs achieve their dreams of successful business ownership.
Since the program launched in 2008, Samuel Adams Brewing the American Dream, in partnership with Accion, has provided $1.9 million in micro-financing to more than 220 businesses nationwide, coached over 3,000 small business owners, and created or saved nearly 1,400 jobs. Food, beverage, and hospitality small business owners, including craft brewers, can apply for loans ranging from $500 to $25,000 to be used for a variety of business purposes including expansion, equipment, and marketing. All loan payments are then recycled back into the fund to be used again.
"What's important to understand is that supporting small business is about much more than just slipping a check under the door," commented Jim Koch , Brewer and Founder of Samuel Adams beer. "It's critical that funding go hand-in-hand with actionable mentoring and coaching to help small businesses succeed after they receive a loan, which is why we're expanding our speed coaching into South Florida."
The speed coaching event will take place on Monday, March 18th from 6:00 p.m. – 8:30 p.m. at the La Jolla Ballroom (301 Alcazar Avenue, Coral Gables), and coaches will include Samuel Adams employees and local business experts. Business owners attending the event will have the opportunity to participate in up to six high-impact personalized 20-minute sessions intended to address their specific problems and concerns. For example, a business owner with social media questions might meet with a marketing and e-commerce expert who can provide specific ideas and tools to help attract and retain potential customers digitally.
Small business owners can sign up for the Miami speed coaching event at http://samadamsbtadmiami.eventbrite.com/#.
A Shaky Recovery and Slow Employment Growth
While South Florida's economy saw some improvement in 2012, local media reports have indicated that the region has at least another year before it will experience a healthy recovery. Additionally, according to the Bureau of Labor Statistics, unemployment rates are above the national average in key areas of the state including Miami-Dade County, which recently experienced four consecutive months of new unemployment claims.
"There's no question that small business is the engine behind economic recovery," said Koch. "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 economic growth within their local communities – and where relatively modest loans and one-one-one coaching can have a meaningful impact."
Koch added that he understands the challenges these small business owners are facing because he has been there. "From being turned down by banks 29 years ago when I was just starting Samuel Adams, to figuring out how to distribute my beer, I know firsthand what these small business owners are going through, and I sincerely believe that our program can help them overcome many of their obstacles so they can be successful and grow," he said.
South Florida Success Stories
Since expanding into South Florida in 2012, Samuel Adams Brewing the American Dream has provided loans to seven small businesses through Accion and hopes to add many more by the end of the year. Highlights of some of the businesses that the program has worked with and supported include:
- Kip's Mix – Miami native Kipri Johnson is one busy woman. Not only has she been working full-time as a paralegal as well as mentoring young female entrepreneurs, but she's also been running her baked goods business, Kip's Mix (www.kipsmix.com), for more than three years. As her devoted clientele salivated for more cookies, cakes and pies, Johnson turned to Samuel Adams Brewing the American Dream for help. Kip's Mix received a loan to purchase new baking tools as well as an airbrush tool kit for decorating cakes, and, like its breads, the business (including the number of employees) continues to rise.
- Bravo! Gourmet Sandwich – Last year, Dennis Quiroz 's Peruvian sandwich business Bravo! Gourmet Sandwich (at www.bravogsandwich.com) needed a boost. The shop, a Ft. Lauderdale favorite, had been operating for more than three years, but Quiroz sought extra assistance to acquire a wine license and make improvements around the restaurant. He turned to Samuel Adams Brewing the American Dream for a loan to help Bravo!, and, just as importantly, build his credit. Quiroz hopes to hire more employees and expand the shop over time—advancements that will not only help his business, but also the South Florida community.
- Hitching Post BBQ – Jonathan Ajoy reached out to Accion where he learned about the Samuel Adams' Brewing the American Dream program last year after being turned down by traditional lenders. Ajoy had been in the business of making great ribs at his restaurant, Hitching Post BBQ, for more than six years, but needed capital to make other aspects of his restaurant match the caliber of his barbeque. Ajoy was approved for a loan which enabled him to make necessary renovations, purchase new kitchen equipment, and launch a marketing campaign. Today, Hitching Post BBQ employs more than 10 people who serve hungry patrons and Hialeah-area businesses.
"All of these entrepreneurs had viable plans but due to issues related to credit or because they were in business less than two years it was difficult to access capital from traditional lending sources," said Paul Quintero , CEO of Accion East and Online. "Samuel Adams partnered with Accion because of our deep history in understanding the challenges and serving the needs of entrepreneurs in Florida and across the country. Together, we believe our support will successively help build their businesses to achieve their American Dream."
For more information about the Samuel Adams Brewing the American Dream program, please visit http://btad.samueladams.com.
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