ILS provides craft brewery businesses the capital and equipment leasing services needed to expand as demand grows
Carlsbad, CA (PRWEB) September 09, 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solution allowing brewers to upgrade their equipment needs at the end of the term rather than being overly invested in outdated equipment through traditional bank financing and equipment purchase.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, Brewmaster and President 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!”
Founded in 1986, Innovative Lease Services is headquartered in Carlsbad, California and is accredited by the Better Business Bureau, a long standing member of the National Equipment Finance Association and the National Association of Equipment Leasing Brokers and is the official equipment financing parting of Biocom. For more information on how Innovative Lease Services can serve your business needs, contact ILS today.