Filed under: Big Givers
The Boston Beer Company has created a unique program to benefit low and moderate income microentrepreneurs seeking to make their fortune in the food and beverage industry. Samuel Adams Brewing the American Dream will provide these entrepreneurs with the tools they need to help them grow and succeed. Boston Beer has partnered with Accion USA which is the country's leading not-for-profit micro-lending organization providing critical capital and other types of assistance to small businesses. Boston Beer has made an initial $250,000 commitment to establish the Samuel Adams Brewing the American Dream Micro-Loan Fund at Accion to provide much needed capital for lower and moderate income microentrepreneurs whose businesses would not be approved for a bank loan. Accion USA business loans range from $500-$25,000.
Boston Beer also plans to develop and execute a series of business education and financial literacy seminars aimed at the educational needs of food and beverage entrepreneurs and offer microentrepreneurs access to the advice and expertise of Samuel Adams employees through regular events. Brewer and founder Jim Koch says he was driven to create this program because he was one of the "little guys" when he started Samuel Adams back in 1984. He's shown above handing a check to the first recipient of the program, Carlene O'Garro, a Boston baker who runs Delectable Desires, a dessert bakery and caterer.