July 17, 2017
SOUTH DEERFIELD, MASSACHUSETTS, July 17, 2017: Berkshire Brewing Company, a South Deerfield based brewing company, received much needed capital to expand its operations, adding a filling and canning line to the brewery.
The Brewing Company, founded in the fall of 1994, has grown from a small operation brewing seven barrels at a time to New England’s premier regional craft brewery, distributing to locations across New England. Gary Bogoff, the president and founder of the Brewery, notes that this equipment 504 deal will help further the brand’s mission. “This equipment expansion will streamline our packaging process, and help us focus on our main goal- brewing the clean, fresh, well balanced ales and lagers that we’ve been perfecting since we opened,” said Mr. Bogoff. He continued, “We are grateful to Community Bank NA (formerly NUVO, a division of Merchants Bank) and BDC New England for assisting us in this expansion.”
“Berkshire Brewing Company played a crucial role in reviving high quality craft brewing in western Massachusetts, their product is truly a success in the area and beyond,” said Carol Brennan, director of business development for BDC Capital. “Gary and his team truly love what they do, and we were impressed looking at the expansion of his company over the years. We remain confident that they will continue to expand, and hope this loan will assist in that process.”
She continued, “This is another great example of how an SBA 504 Loan Program can assist local companies grow their business, and ultimately expand their brand. It provides an ideal financing option for companies seeking to expand, make capital acquisitions, lower down payments in order to preserve cash for working capital, and lock-in a portion of their financing at a fixed rate for a 20-year period. We are elated to partner with the Berkshire Brewing Company on this particular venture.”
BDC Capital provides financing and investment capital for growing companies in all six New England states. Founded in 1953, the company has invested more than $1 billion into local businesses.
Community Bank System, Inc. (CBSI) operates more than 200 customer facilities across Upstate New York and Northeastern Pennsylvania through its banking subsidiary, Community Bank, N.A. With assets of approximately $8.7 billion, the DeWitt, New York-headquartered Company is among the country’s 150 largest financial institutions. In addition to a full range of retail and business banking services, the Company offers comprehensive financial planning, insurance and wealth management services.
The media is welcome to tour the Berkshire Brewing Company. The brewery is open for public tours on Saturday afternoons at 1:00pm.
