New CARES Act Provides Stimulus to Breweries, Cideries

/ / Businesss, Legal & Regulatory

Craft alcohol producers, who asked the government for assistance this month, may now obtain SBA loans interest free to help maintain payroll, mortgage, rent and utilities during the coronavirus outbreak. The CARES act was designed to incentivize small businesses to avoid layoffs. Craft breweries and cideries who were forced to close breweries, bars, wineries and taprooms this month during the coronavirus outbreak. The Emergency Disaster Loans will provide assistance up to $10,000. ..Both the Brewers Association (BA) and the American Cider Association praised the stimulus package, but noted it’s not perfect. 

“This this is a significant step forward that provides much needed relief for small and independent breweries who are facing dire economic challenges, there is more work to be done,” according to a statement by the BA.

Read more (Beverage Daily)