Chicago Brewery has won the Sam Adams Contest and secured expansion funding
Sam Adams founder Jim Koch talks about lending to small businesses and how it can help the local economy.
Chicago Brewery has become the reigning champion of Samuel Adams’ 14th Annual Brewer Experience Craft Brewers Competition, Ensures financial support to support continued expansion across the country.
Sam Adams founder Jim Koch is believed to have launched the craft beer revolution 40 years ago, and has given loans to entrepreneurs, which banks often dismiss as part of his charity programme. Brewing the American Dream.
Moor’s Brewing Company, a craft brewery founded in Chicago by Damon Patton, Jamhal Johnson and Anthony Bell, has joined the increase in breweries that receive financial support from the Samuel Adams brand of Boston Beer Co. and exclusive mentorship from Samuel Adams Professionals, including Koch.
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Founded in 2021, the brewery has already expanded to more than 500 retailers nationwide, opening Chicago’s first black taproom, Diversity House, in the city’s Logan Square area earlier this year. The brewery aims to double its retail footprint over the next five years.
“At Moor’s Brewing Company, we believe that every state across the country can appreciate the value of that connection, so we are committed to increasing our presence in the community across the country,” Jamhal Johnson, co-founder of Moor’s Brewing Co, told Fox Business.
Moor’s Brewery wins Samuel Adams’ annual Craft Brewers’ Competition in New York City. (Boston Beer Company)
As they try to expand, the brewery will work with Samuel Adams on a special release beer in the coming months.
Koch’s program has worked with the Accion Opportunity Fund to help these small brewers access capital since the programme began in 2008. To date, more than $114 million has been loaned to more than 4,500 small business owners in the program’s food and beverage industry.
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According to Sam Adams, American Dream employees, together with local business partners and community organizations, provided mentoring to more than 16,000 business owners nationwide, helping to create or maintain more than 12,000 local jobs.
Moor’s Brewery wins Samuel Adams’ annual Craft Brewers’ Competition in New York City. (Boston Beer Company)
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“I realized that 10 or 15 minutes of advice to small business people on a particular topic is enormous value,” Koch told Fox Business in an interview in New York City, adding that the program first began as a speed coaching session that brought people from the Boston Beer Company, who are professional in all these different areas.
“Small business people come in and sign up for 10 different sessions on what’s a problem or problem for them. I’m always amazed at the power of simple advice,” Koch said.
Today, Koch’s company has a market capitalization of around $2.2 billion and owns home brands such as Samuel Adams, Twisted Tea, Angry Orchard, Truly Hard Seltzer and Dogfish Head Brewery. However, Koch was too familiar with the challenge of securing funds while turning his dreams into a business. In 1984, when he first started the Boston Beer Company in the kitchen, Koch said it was “impossible” to gain capital.
A shot of Moore’s Kolsch, a well-balanced brewed with a bright body with subtle notes of stone fruit and cracker malt. Fragrant. (Boston Beer Company)
“The banks don’t lend me any money. Everyone thought it was a joke, Koch told Fox Business previously. The idea of starting a brewery is “unthinkable.”
Today, Koch can help a large group of businesses who know what it’s like in his shoes. It has been proven to be as successful as a program 98% repayment rate, According to Koch.