The Boston Beer Company has announced the national expansion of the Samuel Adams Brewing the American Dream program. With a focus on helping small businesses related to food, beverage, craft brewing and hospitality, 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.
While in the past only a handful of regions had access to the program, todayâ€™s national expansion of Brewing the American Dream will target at least $1 million in new loans, expanded for the first time to recipients across the country, with significantly increased access to its high-impact one-on-one mentoring and coaching activities. Additionally, the nationwide program includes the introduction of the new Brewing the American Dream Online Community, the first online resource to provide small business owners in the food, beverage, and hospitality sector with a comprehensive platform of tools to help their businesses succeed.
Working in partnership with Accion, the countryâ€™s only nationwide microlender, Brewing the American Dream has already provided more than $1 million in micro-financing to close to 150 businesses, and created or saved nearly 1,000 jobs. Since it began a few years ago the program has offered one-on-one coaching and advised nearly 3,000 small business owners in the food, beverage, craft brewing, and hospitality industries throughout New England, New York, Chicago, Pennsylvania, and Ohio.
“What differentiates Brewing the American Dream is the combination of loans and hands-on education,” said Boston Beer founder Jim Koch. “Working with Accion, we identify small business applicants who are often viewed as too risky by traditional banks â€“ yet at the forefront of job creation and growth within their local communities â€“ 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.”