ILS offers Leasing and Financing Solutions to Breweries Looking to Grow
Carlsbad, CA September 9, 2014 – – Innovative Lease Services (ILS), located in the “The Craft Beer Capital of America,” has reported a tremendous growth in the number of San Diego breweries financed this year. San Diego leads the country in new licenses for craft brewery businesses with breweries in the North County region generating $272.3 million in 2013 alone and contributing over $37 million in the local economy. Starting a brewery requires considerable up-front capital investment and most breweries require some level of financial assistance.
ILS has expanded their brewery equipment leasing and financing team to support the emerging industry and also provides working capital, inventory financing, loans and merchant cash advance programs for breweries.
Illustrating this significant growth trend, ILS VP of Sales Neil Clark stated, “We have provided financial services to numerous breweries throughout the US, but recently we have noticed a huge spike in the San Diego market. These breweries are coming to us in need of capital for a wide range of equipment and other assets to expand their rapid growth. Equipment Leasing is the smarter solution allowing brewers to upgrade their equipment needs at the end of the term rather than being overly invested in outdated equipment through traditional bank financing and equipment purchase. As a San Diego native and beer connoisseur I could not be happier supporting these operations, it’s a win-win!”
One local craft beer business, Bulldog Brewery of Temecula, CA, recently expanded their brewery and tap room operations to keep up with increasing customer demand. ILS was able to provide Bulldog Brewery with both Equipment Leasing and Working Capital, allowing them to both expand their production and supply them with a cash infusion to ease their growing pains. Brewery owner Thomas Caso could not be happier. “Working with ILS made these next steps of my business growth much easier; my thanks to the knowledgeable team at ILS. They understand the needs of small business owners and are ready to take their innovations to the next level. The ups (and downs) of running a small business seem never-ending, but ILS was pivotal in putting their skills and financing capabilities to work allowing us to grow at a crucial time” he stated.
Another recently financed Micro Brewery business, Hermit Thrush Brewery, came to ILS seeking capital to meet their growth. After waiting over 60 days for a decision from their bank, Hermit Thrush applied with ILS and received an approval in the same week. Christophe Gagne of Hermit Thrush shared his experience, “The financing we received from ILS was comparable to a bank and the speed was worth the increased total payoff of financing. We were very pleased with not only how quickly the financing came through but with how well the team helped us through the process so we could meet growing consumer demand for excellent craft-brewed beer. Thank you ILS!”