Samuel Adams Helping Fund Small Businesses With Microloans

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Samuel Adams Helping Fund Small Businesses With Microloans

January 25, 2011 by Angela Shupe | 0 Comments

Small businesses can never find enough places to apply for funding when they need it. A well-known beer manufacturer is doing its part to help.

The Boston Beer Company’s Samuel Adams Brewing the American Dream Loan Fund will help by dispensing loans for low- to moderate-income businesses in the Boston area. The loan amounts will be anywhere from $500 to $25,000 reports gaebler.com.

James Koch, founder and president of the Boston Beer Company, told the Herald News that he came up with idea after he and his employees participated in a community service day in south Boston. Koch approached nonprofit microloan provider ACCION to start the fund.

“The cost of administering small loans, for a bank, is too high,” Koch said. “We were looking for a way to give back in a meaningful way.”