SPRINGFIELD — Gov. Charlie Baker and Lt. Gov. Karyn Polito toured the new beermaking room at White Lion Brewing in Springfield’s Tower Square Wednesday before announcing $30 million in grant and loan programs aimed at small businesses as they recover from the coronavirus pandemic.
Of the $30 million:
- Loans: $14.7 million will fund small business loans through 15 community financial institutions including Springfield nonprofit business lender CommonCapital, which received $1.25 million.
- Small Business Technical Assistance Grants: $4 million will be distributed among 45 nonprofits to continue aiding expansion of small businesses and entrepreneurs from traditionally underserved communities. Of that, $40,000 is going to CommonCapital.
- New programs: A total of $11.3 million will go to two new Massachusetts Growth Capital Corp. programs. Biz-M-Power, with $7.5 million, will offer matching grants to businesses that raise money through crowdfunding. The money can go to facility expansion, equipment purchase and capital needs. And the Digital Capabilities Program, with $3.8 million, will provide for the needs of small businesses as they develop digital capabilities.
White Lion earlier received a Massachusetts Growth Capital Corp. grant enabling cans-to-go sales, as well as a $20,000 loan through Springfield’s Dining District Loan program and a $5,000 local COVID-19 relief grant through MassDevelopment’s Transformative Development Initiative.
White Lion also was an early borrower in a small business loan program similar to the ones funded by Wednesday’s announcement.
“Our brewery where you stand today is because of those resources and those support systems,” founder Raymond Berry said. “No small businessperson can go at it alone. It takes a collective to move a business forward.”
White Lion started brewing at its Tower Square facility in October, but the ribbon cutting is June 23. The tasting room opens to the public June 26.
Raymond Lanza-Weil, president of CommonCapital, said the state money is important because it’s flexible. And it comes at a great time.
“Businesses coming out of the pandemic are coming to us looking for loans,” he said. “They want to grow.”
Baker recalled meeting with Mayor Domenic J. Sarno soon after winning election in 2014 and Sarno giving him a six-pack of White Lion beer as a goodwill gesture.
“I think I’m going to have a drink before I leave,” Baker joked.
Sarno predicted a “roaring ’20s” recovery from the pandemic and joked with Berry that he needn’t run a Prohibition speakeasy.
Berry founded the brand in 2014 with just one employee — himself — and a contract to get his beer brewed elsewhere. Today he’s got a dozen employees, with plans to grow to 20 in July, and all the beer is brewed in Tower Square.
Polito said White Lion was a perfect business to host Wednesday’s announcement.
“I think…
Read More: Gov. Charlie Baker, Lt. Gov. Karyn Polito announce $30M in small business