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Craft Brewery
Brewery & Distillery

do to increase your chances of getting the best lender will grant you funding for and structure the
possible loan, including different kinds of research, loan accordingly. For instance, borrowing money
some careful planning, or actions you can take. 43% for expansion, real estate, machinery and buildings
of small businesses applied for a loan last year, and may be very amenable for a lender.
only 48% of those small businesses get their financ-
ing needs met. Make a name: Now is not the time to scale back
marketing efforts or forget to update the web-
Banks lent over $644 billion to small businesses site. Market your craft brew, register a website
in 2019, but lending slowed in the wake of the domain address and update your online profiles.
pandemic in 2020. With lenders feeling more opti- Get a professional logo. Be active on social media
mistic in 2021, there will be more options for small and online. Stake your claim in the industry and
businesses looking to rebound. For businesses still make the craft beer name stand out. Register with
struggling after more than a year of unprecedent- search engines and on multiple platforms so that
ed disruption due to the COVID-19 pandemic and banks and other lending institutions can find and
working tirelessly to recover, not all hope is lost. get a feel for the company.
Consider the case of Trubble Brewing Company.
Trubble Brewing received loans to expand from one Realize it takes time: One of the biggest factors
location to three in the Ft. Wayne, Indiana area just in determining whether a loan is approved or not is
before the pandemic began in 2019. From 2019 the length of time a brewery has been in business.
through today, the company enjoys huge success. Lenders want to know if a business has stability
and the longevity to keep up with the business in
To best position you to apply for a loan, there are the near and long term so that their funds will be
some steps you can take, from figuring out if you re-paid. In addition, the ability to provide receipts
can qualify to prepping all the documents you’ll and prove profitability are very important even if a
need. Here are some tips to think about when business is fairly new. The lender is determining if
financing: a company has credibility – does a business invoice
and collect payments on time, maintain records
Research loan products: Understanding the type and conduct its processes in a professional manner.
of loan that are available is critical. Applying for a
loan, when what is actually needed is a line of cred- Organize and compile your documents: Applying
it, will slow down the process and possibly end in a for a loan requires financial transparency, so make
loan denial. Experts from Loan Mantra can help you sure your financial, accounting and tax records are
pinpoint exactly what type of funding is needed accurate, organized, and updated. You’ll likely be
and help guide businesses through the application required to submit numerous documents, including
process step-by-step. three years of business and personal tax returns,
a loan application that permits a personal credit
Structure the deal: Working with an expert can report for all owners, business debt schedule (BDS),
help you structure the loan so that your approval personal financial statement (PFS), interim finan-
is fast and successful. For instance, know what cials, AR and AP aging reports, entity documents,
specific things associated with the business that a and purchase agreements. Organizing and compil-

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