Business recieves Sam Adams loan
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Compliments Food has been granted a $10,000 loan from the Samuel Adams Brewing the American Dream microloan program, and will use the money to help build out the interior of a food truck. The Quincy company, owned by Kim Crocker, was one of five recent recipients of microloans from Sam Adams and its partner Accion, which seeks to help small businesses that have difficulty obtaining financing through traditional methods. The program also offers coaching, mentoring, and educational resources for business owners. According to Jim Koch, founder of Sam Adams, the program processes approximately 80 loans a year, and has a 96 percent repayment rate. “We try to only make loans to people who can grow, create jobs, be successful, and pay the loan back,” Koch said. He said the main reason for the program is to help small businesses, which Sam Adams once was. “It’s a benefit for us because it keeps us in contact with our small business roots,” he said.