Robert Allen Detroit Free Press Published 10:00 p.m. UTC Jul 28, 2018 The kegs are iced in buckets, and high-powered beer flows through plastic chilling coolers — known as "jockey boxes" — to emerge from the taps at just the right temperature. A Witch's Hat Brewing Co. crew member takes the first foamy taste from a small plastic cup. "Damn is that good," he says. The beer is Dragon Traxxx Night Fury, a big, hearty, bourbon-barrel-aged stout with peanut butter, coconut, vanilla beans, cocoa nibs and a hefty kick – as in 13.5 percent alcohol by volume. It's the complete opposite of what common sense says you should drink outside on a hot summer day. But this is the highly anticipated 2018 Michigan Summer Beer Festival in Ypsilanti, and this is a beer fans cheerfully wait in line to taste from small, plastic cups. "You have to bring your A game," brewery co-founder … [Read more...] about Unemployed couple starts one of Michigan’s most creative breweries
Loans to start a small business
Liz Weston NerdWallet Published 3:38 p.m. UTC Jul 16, 2018 Amazon. Chipotle. GoPro. These household-name businesses were launched thanks to investments by the founders’ parents. But parents also have sunk plenty of money into their offsprings’ doomed enterprises, sometimes endangering their retirements and family relationships in the process. Certified financial planner Jon Ten Haagen of Huntington, New York, had a retired client who against his advice gave $100,000 — most of her savings — to her son to start a restaurant. The business failed within a year, and he has yet to pay any of the money back, he says. “She’s just getting by at this point,” Ten Haagen says. Beware of the risks Parents usually want their kids to succeed, and many are accustomed to sacrificing to help make that happen. But parents shouldn’t be mislead about the risks, financial planners say. “This investment is going to be concentrated, illiquid, … [Read more...] about Liz Weston: Can you help your kid start a business?
By Ileana Najarro Published 3:55 pm CDT, Tuesday, July 10, 2018 Photo: Jason Hoekema, MBR Image 1of/1 CaptionClose Image 1 of 1 The Small Business Administration will host an informational session geared toward rural small businesses. (Jason Hoekema/Valley Morning Star via AP) The Small Business Administration will host an informational session geared toward rural small businesses. (Jason Hoekema/Valley Morning Star via AP) Photo: Jason Hoekema, MBR SBA Houston office hosts free rural small business roundtable 1 / 1 Back to Gallery The U.S. Small Business Administration Houston District Office, in partnership with the U.S. Department of Agriculture and the Farm Service Agency, will host a free informational session on July 19 in El Campo. The event is geared toward entrepreneurs and experienced small business … [Read more...] about SBA Houston office hosts free rural small business roundtable
Small businesses needing loans should think small — bankwise, that is.That's the finding of a new Internet tool that grades banks on their small-business lending.Banking Grades, which measures loans in relation to deposits, gives As and Bs to many community banks but Ds or worse to some banking behemoths.In Maryland, for instance, M&T Bank received a C — one of the best grades for a larger bank — while SunTrust and PNC received Ds. Bank of America got an F. Ouch!Meanwhile, lesser-known, smaller banks are taking home As. Those include the Harbor Bank of Maryland in Baltimore, Howard Bank in Ellicott City, Revere Bank in Anne Arundel County and Woodsboro Bank in Frederick County.The big banks' reaction is not unlike that of a high school overachiever who for the first time doesn't get an A. They claim the grading system is unfair, and some even question the motives of the tool's creator.But academics who work with small businesses say Banking Grades' results aren't … [Read more...] about New Web tool grades banks on their small-business help
Goldman Sachs and Bloomberg Philanthropies are scheduled to announce a $10 million investment Wednesday to launch a training and loan program for small businesses in Baltimore.The program, called 10,000 Small Businesses, is intended to give small businesses a jolt of energy, new ideas — and maybe a little cash — to jump-start growth and spur hiring.“This is for the betterment of Baltimore,” Mayor Catherine Pugh said. “To have this kind of investment in our city, I think, bodes well for Baltimore.”The announcement is to coincide with a graduation ceremony at Center Stage Wednesday for about 60 business owners who participated in two pilot sessions of the program earlier this year. Goldman Sachs CEO Lloyd Blankfein; former New York City Mayor Michael R. Bloomberg, whose charitable giving is managed by Bloomberg Philanthropies, and billionaire businessman Warren E. Buffett, all of whom serve on the program’s advisory council, are expected to … [Read more...] about Goldman Sachs, Bloomberg Philanthropies invest $10M to bring small-business program to Baltimore