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Showing results for tags 'funding'.
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We are having an open house at our distillery in celebration of our two-year anniversary on November 15th, 2023. We will be showcasing everything that we have built and accomplished as well as presenting a new investment opportunity. As most folks reading this forum know, this is a promising sector in an industry with high consolidation, providing an opportunity for an appealing exit within the next ten years. This would make a great investment for individuals looking to diversify their portfolio by adding exposure to a high-risk high-yield DTC and B2B operation that is well insulated from inflation and stock market volatility. We are offering full member interest in our LLC. Like many of us on this forum, I have poured my life savings and time into this endeavor in no small part because I believe that we can not only create something that adds value to our community, gives back to good causes, and support goods jobs, but that also has the potential to reward us for our efforts. I feel more confident than ever in that vision, and am looking for additional financial support from others who believe in that vision as well. We're open to discussion with any and all interested individuals—as well as other businesses—who may be interested in working with us. If you or someone you know may be interested in learning more, please share this attached flyer with them and I would love to give them more details and invite them to our open house! Thank you, Paul
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Hi all, I've reached out to a bunch of financing companies at this point now and haven't had much luck in getting the loan support I need to get my business up and running. I have talked to GE Capital, Brewery Finance, and a few local banks, but they all require that I have been in business for at least a year in order to be willing to provide a loan. Do any of you have experience in working with lenders in the early stages of your business and can you offer any advice? I've already gone to friends and family and am looking for loans to cover the rest of my start-up needs. Thanks!
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I have over 20 years’ experience working with finance solutions through the SBA financing arena. My primary focus is Craft Beverage Lending on a nationwide platform. Dogwood State Bank is a preferred lender with the SBA and offers financing options to businesses with loan sizes usually ranging from $350,000 to $5,000,000. You can email me at sbirkner@dsbnc.com and we can set up a call to discuss your project. Cheers! Scott Birkner| SBA Business Lending Specialist Dogwood State Bank Small Business Lending Cell: 704.564.5940 10130 Mallard Creek Rd., Bldg 2, Suite 232 | Charlotte, NC 28262 linkedin.com/in/sbirkner
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At this point I cannot suggest a bank to approach for funding a startup, but I can definitely urge that no sane person wanting to start or expand a distillery ever considers using BB&T. On some misguided recommendations we started with them, and four months later here is a synopsis of our results: BB&T - Thanks, that should be all we need. Us - (Later) - Hello? So where do we stand? BB&T - We need some additional information. Us - (actual sample BB&T responses) It's on page 1 of our financial summary. That is on the second page of our business plan, just after the cover page - ya can't miss it. We sent that to you two months ago. Etc. etc. etc. etc. BB&T - Thanks, that should be all we need. Rinse and Repeat. Last week it was stated that we had not proven competence with the process at hand to be successful. I reviewed the summary already provided (imagine that), starting with my 3 engineering degrees, cutting my engineering teeth in oil refinery cracking towers in a process generally known as fractional distillation. I also confessed to having worked closely with a father-in-law moonshiner of renown, only recognizing him as such now by name since his demise. My 40 years of efforts also included 20 of fermenting - beer, wine, and mead, and frolicking at working adult beverage distilleries in four states and three countries, plus ADI hosted training, plus the availability of consultants (included in our financial plan) through our still manufacturer. The phrase "this ain't rocket science" was also used (I am not a rocket scientist, but some of my satellite communications equipment is still orbiting up yonder). BB&T - We need some additional information. Us - Expletives deleted. Shortly we will officially "fire" BB&T. The City that has anxiously awaited our startup also uses BB&T, and they will likely "fire" them as well (they have not been terribly happy with them either, but this debacle precipitated the move). We are fortunate to have my wife's cousin as our third partner. He has established six physician-owned hospitals in Texas, and employs my wife (a recovering attorney) as his lobbyist in our state, to consider opening others here. BB&T had been under consideration for those projects, we made that crystal clear up front, they amazingly showed no interest, and that is now off their table as well. In my long professional career, when I began any new project I made every effort to learn at least the basics of what was expected before forging ahead (DUH). Four months later and BB&T still can barely spell "distillery." Avoid them like the plague. Two days after deciding to dump BB&T and we now have two viable bank clamoring for our business, so we will start anew on Monday.
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Hello, y'all I'm going for it, and I need y'all to try to talk me out of it. Just kidding, sort of. I've been putting together a business plan (which for me consists of staring at a computer screen for and hour and then typing one sentence) to start an artisan distillery. I am currently in the throws of making some big decisions regarding the operation, and this forum is priceless for helping me put these decisions into perspective. My first thought, being a novice business owner with little capital to invest, was to start as small as possible. I originally wanted to rent a small warehouse and produce 3 to 4 really good, simple products. Then I get on this site and read all the kudos for tasting rooms and now I'm rethinking everything. I then had the idea that, if I opened an establishment that served local spirits (I live in Colorado, and would feature all-Colorado beverages) I might be able to turn a profit while I waited for the TTB, etc. Then I thought "ow". My brain started to hurt from all of the conflicting calculations and permutations of visions. So now I'm back to the simple warehouse o' liquor idea. Thing is, I also think I eventually want a tasting room of some sort. I'm a musician (banjo, fiddle, and guitar player..and I'm missing a few teeth...kind of makes me a natural for this business, I think) and I plan to incorporate music into most every aspect of my business, from marketing to having dag-gum square dances in the tasting room (when I get one). So all of this comes in to the mix. Brain dump done. So I'm feeling kind of stuck right now. I'm thinking that my next step is to hire a mentor/advisor from one of the many who have posted here. I welcome any and all advice y'all have regarding...well....anything to do with opening a craft distillery. Mostly I need the warnings, which is what I meant by y'all talking me out of it. As many heads up of dangers as you can give me, I'd appreciate. Also, if folks here could recommend a good consultant to hire, that would probably be the thing I need to get my direction back. (Professional consultants don't go recommending yourself, now...I wanna hear it from those who have used your services). Thanks in advance for all future advice and thanks in retrospect for all the info I've already gotten.
