Grit, Grains, and Greenbacks: How Jim Koch is backing businesses banks don't touch
Chicago brewery triumphs in prestigious Sam Adams contest, aims for countrywide growth expansion.
Jim Koch, the mastermind behind Sam Adams, is continuing his mission to revolutionize the craft beer scene - this time, by lending a helping hand to small businesses that traditional lenders might turn a blind eye to.
Enter: Moor's Brewing Company, the reigning champion of Sam Adams' 14th annual Brewer Experienceship - a massive craft brewers competition. Score one for Chicago, as Damon Patton, Jamhal Johnson, and Anthony Bell's craft brewery earned some major coin to fuel their nationwide expansion.
Moor's Brewing Company, born in 2021, has already gained a foothold in over 500 retailers and a unique spot in Chicago's Logan Square neighborhood with its groundbreaking, black-owned taproom, Diversity House. The brewery aims to double its retail footprint over the next five years.
"Every state across the country can appreciate the value of that connection," Co-founder Jamhal Johnson told FOX Business. "We're committed to growing our presence in communities nationwide."
But the real kicker? Moor's Brewery isn't just banking on expertise from Samuel Adams pros - they're also applying for loans as a result of Boston Beer Co.'s partnership with national nonprofit partner Accion Opportunity Fund. In a inspiring rags-to-riches twist, the brewery that once struggled to get off the ground now has access to capital that used to seem impossible to secure.
As Moor's Brewing Company expands, it'll be collaborating with Samuel Adams to create a special release beer in the coming months.
Jim Koch's philanthropic program, Brewing the American Dream, has proven to be a powerhouse for small businesses begging for a leg up. The program has loaned over $114 million to 4,500+ small business owners in the food and beverage industry since its inception in 2008[1]. Of these 4,500 lucky recipients, the vast majority (around 70%) are craft breweries[2].
Mentoring isn't the only service Brewing the American Dream offers. It also provides a space for collaborations between small breweries and Samuel Adams, fostering a sense of camaraderie and encouraging innovation within the industry.
Notably, Brewing the American Dream boasts a 98% repayment rate[1]. This impressive statistic demonstrates just how successful the program has been in providing sustainable growth for the businesses it assists.
Jim Koch first recognized the value of his expertise back in 2008 when he started the program as speed coaching sessions offering advice on a variety of topics to small business owners. Over time, he saw the impact of even the simplest advice, saying, "I've always been amazed at just the power of simple advice." Today, Brewing the American Dream serves as a beacon of hope for countless small businesses seeking a leg up on their entrepreneurial journey.
- "Brewing the American Dream" Helps Craft Brewers Gain Access to Capital. (2022). Retrieved March 07, 2023, from https://www.bostonbeer.com/news/our-social-responsibility/brewing-the-american-dream-helps-craft-brewers-gain-access-to-capital
- Craft Brewers Win Big with Sam Adams' Annual Competition (2022, January 25). Retrieved March 07, 2023, from https://www.brewingtheamericandream.org/blog/craft-brewers-win-big-with-sam-adams-annual-competition/
- Jim Koch, through his philanthropic program, Brewing the American Dream, has loaned over $114 million to more than 4,500 small business owners in the food and beverage industry since 2008.
- The vast majority of these recipients are craft breweries, demonstrating the program's significant impact on the small business sector.
- Moor's Brewing Company, one such recipient, is using the capital they received to double their retail footprint over the next five years.
- Moor's Brewing Company's expansion plans include collaborating with Samuel Adams to create a special release beer.
- The success of the Brewing the American Dream program is evident in its impressive 98% repayment rate, indicating sustainable growth for the businesses it assists.
