Raise your glass: Abjuration Brewing made a full, early repayment on their Honeycomb loan
We're thrilled to announce a new milestone for Abjuration Brewing, a small-batch brewery in the McKees Rocks borough just outside of Pittsburgh.
Abjuration Brewing is known for their ever-evolving beer flavors served in beaker glasses. The brewery was founded in 2016 by longtime brewers and friends, Dave Hallam and Tom Glover.
With a high demand for their beer, Dave and Tom launched their Honeycomb campaign to raise funds to increase output capacity.
In June 2019, Abjuration Brewing reached their maximum funding goal of $50,000 from 54 community investors. The funds allowed Dave and Tom to buy 7 SS Brewtech Unitanks and a brewery pump.
Abjuration Brewing fully paid their investors early
Amongst the brewery upgrades came the opportunity for Abjuration Brewing to pay their investors back early — and they took it!
In a letter to their investors, Dave and Tom wrote:
“We cannot thank you enough for trusting us and fueling our twisted passion for beer. Without your investment two years ago we would not be in the position we are in today. Then again, you humbled us during the pandemic by pausing our pay back… We hope we will continue to see your faces in the taproom knowing you are part of the fabric of this brewery.”
Abjuration Brewing investors earned 15.34% ROI on average!
Abjuration Brewing’s community investors earned an average of 15.34% ROI! The brewery would not have been able to purchase equipment to increase production without the support of investors.
Currently, Abjuration Brewing is undergoing significant upgrades to their hot side and cellar. Upcoming improvements include the addition of a biergarten and 3BBL brew system.
“Honeycomb Credit had our best interest in mind and continually supported us with everything, from the emotional aspects of riding out a campaign to fine tuning and suggesting media and methods,” said Tom. “We, with all our wonderful backers, can look forward to enhancing and propelling us forward.”
Congratulations to Abjuration Brewing and their community investors! Here’s to many more years of experimenting and crafting up delicious concoctions.
Tap into community funding
Are you ready to fund your next small business project while strengthening your community ties? Whether you are expanding production or opening a new location, we can help you set up your brewery for success.
To learn more about Honeycomb crowdfunded loans for small businesses, check out www.honeycombcredit.com/grow.