Thursday, January 12, 2012

Orange County small business loan program provides funding to Hillsborough microbrewery

Orange County’s small business loan program recently provided support to West Hillsborough’s newest business, Mystery Brewing Company, an artisanal brewery focused on creating distinctive beer. Their approach to their craft is summarized on the Mystery Brewing website: “Our mission is to create a cornucopia of high-quality, small-batch, rustic ales for the discriminating consumer, to test the boundaries of creativity and style. In short, to make outstanding beer.”
“The County is very pleased to be able to support the growing West Hillsborough Business District," Orange County’s Director of Economic Development, Steve Brantley, said. "This fine company will be a great new addition to the vibrant culture that helps define this community.”
Mystery Brewing is also one of the collaborators behind a new retail venture offering supplies for homebrewers. Nash Street Homebrew is also located in West Hillsborough and will carry home brewing equipment, ingredients and recipes, and serve as a resource for all levels of homebrewers.
The loan program is a revolving loan fund designed to foster small businesses development and expansion of local companies that may have limited access to conventional financing. This program is open to small businesses located in Orange County with gross revenues of less than $3 million. The program is managed through the County’s Economic Development office and administered by a volunteer board of directors composed of local business owners, bankers and staff representing several Orange County departments. For more information on this program, contact Dottie Schmitt of Orange County Economic Development at (919) 245-2327 or at dschmitt@co.orange.nc.us.

2 comments:

  1. Very cool blog from my hometown (and former employer). Looking forward to keeping track of all the goings-on.

    ReplyDelete
  2. This type of negative cash flow has derailed potentially successful companies before they could even get off the ground. In this case, a small business loan, secured at the right time, might have been what was needed to keep the company afloat.

    ReplyDelete

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