Jul 23, 2011

Lazy Magnolia Plans $3 Million Expansion

$740,000 from USDA to expand microbrewery in Kiln

- Associated Press

A microbrewery that started with a Christmas homebrew kit is getting a $740,000 interest-free expansion loan from the U.S. Department of Agriculture via the local electric co-op.

It's part of a $3 million plan to boost production at Lazy Magnolia Brewing Co. from 10,000 to 50,000 barrels a year.

The rural economic development loan is the second in three months that Coast Electric Power Association has obtained for a business in the Kiln, a Hancock County community of 2,100.

In May, USDA approved $740,000 for Blacklidge Emulsions Inc., an asphalt company.

Under the USDA program, companies have 10 years to repay the loans.

Read more: http://www.sunherald.com/2011/07/23/3294124/740000-from-usda-to-expand-microbrewery.html#ixzz1Sw1E24z4

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