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I recommend you do two things for financing:
Check out Business Money Today online. There is a wealth of information there.
Try to connect with a community member here that goes by the nickname "phanio". He is excellent with helping people in your situation.
I know you mentioned that you have a concise business plan, but just to offer, my partner and I are running a contest where we are giving away 5 business plan reviews. I used to own a restaurant / bar and worked in the industry prior to that. If you are interested in having us take a look at your plan for a critique, you can get the details here:
I hope this helps.
You may want to talk to the vendor that supplies the brewery equipment. You may be able to finance the purchase through an equipment leasing program. Your vendor may have a leasing company that they already work with. Being a startup, you will likely have to put a down payment on the equipment. It can be very difficult to almost impossible to finance 100% of an equipment purchase when starting a new business.
An SBA Express loan may be an option. This type of financing allow up to $350,000 for equipment purchase and working capital. The SBA will guaranty 50% of the loan so bank will approve these more often than their own portfolio programs. All the major banks (BoA, Wells Fargo, PNC, etc) are approved to offer express loans. They are much quicker and easier to do than a traditional SBA 7(a). You will have to personally guaranty the loan if you are approved and if you own real estate it will be most likely used as collateral in addition to the equipment being purchased.
In today's credit world, you will have a hard time financing 100% of the startup no matter what program you choose. 10-20% of the cost of the startup will likely be required to come from your own funds (or friends, family, partners etc).
I love a good beer so I hope this works out for you!
Hi, I work with lots of startup and perhaps I can help you. Is there anyway you can let me know more about your business?
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We are in the works of starting a Craft Brewery in Austin, TX. We are having a few hiccups come along with starting up. The banks we have spoken to do not really understand the overhead for a brewery. There is a lot of it. We are trying to start a 10bbl brewery which would make the overhead $150,000 for the start-up. We have a concise business plan. The money goes primarily to the $15K-$20K fermentors, mashtuns and boilers. Does anyone have any insight on getting financing for our brewery start-up?