Crown rescinds $5 million low-interest loan for craft breweries

Manitoba – A $5 million low-interest loan fund that was promised to craft breweries has been rescinded.

The Crown corporation sent an email to Manitoba craft breweries yesterday morning that said,

As you may be aware, Manitoba Liquor and Lotteries has reviewed the previously announced Manitoba Craft Liquor Opportunity Fund

We do understand the importance of capital funding to small business and the local craft brewing industry in particular, both to get your business off the ground and to ensure continued growth. However these types of programs are outside our core mandate and expertise and therefore we will not be proceeding with the program.

Announced by the previous NDP government, the fund was set up to provide a max of $250,000 to approved breweries in low-interest loans for the purchase of equipment.

More information can be found here.