New loan program to boost Manitoba craft breweries, distilleries
Craft brewers and distillers in Manitoba will be able to apply for a $250,000 loan to expand or start their business.
Published Tuesday, January 19, 2016 7:55AM CST
Last Updated Tuesday, January 19, 2016 7:56AM CST
Manitoba Liquor and Lotteries introduced a new loan program on Monday to boost the province’s craft brewing and distilling industry.
Producers starting a new business will be able to apply for a loan of up to $250,000 to purchase equipment.
For brewers already in operation, the loan can be used to expand existing production or sales capacity.
To apply, brewers or distillers need to be based in Manitoba and the loan must be paid back over a five-year period.
Up to $5 million has been designated for the loan program.