$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.
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.
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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