WINNIPEG — The Manitoba government has set aside $5 million as part of an incentive loan program to further spark the growth and development of the province’s craft brewing and distilling industry.
Loans of up to $250,000 will be issued for producers to purchase equipment to start their businesses, or towards the expansion of existing production.
“The capital investment required to open or expand a craft brewery is extremely high,” said Nicole Barry, owner of PEG Beer Co. “By having another source of funds to access, it provides some welcome breathing room.”
Loans must be paid back over a five-year period and will be issued to Manitoba-based businesses. Applications will begin being accepted in late spring or early summer of this year.
“The introduction of this loan program is one more way in which we can help this exciting industry to thrive, which will in turn resonate throughout the province, creating benefits to Manitoba’s economy, agri-producers, hospitality and tourism industries,” added Ron Lemieux, minister responsible for Manitoba Liquor & Lotteries.