Jim Elliott was able to take his home brew to a million dollar business. He had been in retail much of his life, then a school teacher for 14 years. He had been home brewing his beer for 7 years and everyone loved it. He talked to the wife and decided to start a brewery. Jim had made a good business plan to organize his thoughts and try to get the money he needed. He did not have a lot of money, but between his personal money and all his friends and family he scraped $150,000 together.
Jim’s credit was good but even with the help of the SBDC he was still turned down sixteen times by banks for the loan he needed to start his brewery. (more…)