Our Wefunder campaign will be ending in a few days.  We had set a minimum of $100,000 because we had originally planned on having our loans paid back within 5 years of opening and 50% over 5 years seemed like a good deal for both the investor and the company.   Since we are starting with a much larger brewhouse, we have revised our financial projections and it now looks like we will be able to pay them back within 3 years of opening.  We could lower the minimum or extend the campaign but we don't see either as a good business decision.  Paying 50% interest over 5 years makes sense.  Paying 50% over 3 years would be a little high but doable.  But, if we lowered the minimum to 36k and paid that back plus 50% using 10% of our gross receipts, we would be paying that back less than a year after we open.  Paying 50% interest for having the money one year is not something we are prepared to do, especially when we have other options at a much more favorable interest rate.

We started this campaign not just as a way to raise money but as a way to allow people to make their own beer and have it served on tap in a bar.  As a homebrewer I have wanted to do that for years and we are looking forward to following thru with doing that.  So, even if we have not raised $100,000 by the end of the campaign, the people that have invested will have their investments returned to them, but since you were willing to invest, we will still let you come in and brew on our pilot system and serve your beer in our taproom.  Or, we will brew a beer for you.  You will still get the perks even we don't reach our minimum.

In other news, the $40 million redevelopment project that surrounds our brewery is 99% complete and looks great.  There is a weed dispensary opening across the street from us that will surely attract a crowd to our area.  And a 300 seat restaurant is opening on our block that will be a huge benefit to us as we are not going to have food but it will available be very close nearby.

Hope to see you all at Beer District Brewing soon.