Samuel Adams extends lending program to New York City



Small businesses looking to incorporate in New York City may receive assistance from a new philanthropic initiative from the Boston Beer Company, brewers of Samuel Adams.

Samuel Adams Brewing the American Dream will be introduced to the Big Apple, with a focus on aiding small companies in the beverage, restaurant and hospitality industries find access to credit to help grow their enterprises.

In collaboration with the nonprofit micro-lending organization ACCION USA, the program has already loaned $540,000 to 60 businesses, mostly in New England. The introduction of the program in New York will help the two companies achieve their goal of lending a total of $1 million by the end of the year.

"Our program helps small business owners access the capital they need that would otherwise be impossible to secure," said brewer and founder of Samuel Adams Jim Koch.

"Ultimately, through our partnership with ACCION USA," Koch added, "the goal is to help fill the current small business lending void in the city's neighborhoods and be responsive to the business and financial management education needs of these business owners through one-on-one coaching."

Tags : financial management, ny, small business management
Posted: Apr 5th, 2011
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