Cleveland Welcomes Samuel Adams and ACCION USA’s Microloan Program for Food Businesses

Samuel Adams, together with ACCION USA, is bringing their microloan program, Brewing the American Dream, to Cleveland.  They are offering loans to local entrepreneurs in the food, beverage and hospitality industry and are currently accepting applications from small businesses in all lifecycles, from start-ups to established businesses.

Loans range from $500 to $25,000 and carry interest rates between 8% and 15% with a five-year repayment period.  Loans are commonly awarded for equipment purchasing, inventory purchasing and marketing campaigns.  Applications are available on their website.

Aside from financial support, Brewing the American Dream offers educational opportunities to its loan recipients.  These opportunities include individualized one-on-one mentoring, business literacy seminars, assistance with building media exposure and speed coaching events.  Speed coaching is a two-hour event where small business owners engage in multiple 20-minute one-on-one sessions with a wide range of experts from marketing and branding to legal matters and financial management. 

Cleveland will host its first Brewing the American Dream Speed Coaching Event on October 24, 2011 at a location yet to be determined.  We hope to have an update soon with more details on the event.