CAPE GIRARDEAU, Mo., Dec. 1, 2014 – The Missouri Innovation Corporation (MIC) at Southeast Missouri State University announced today the closing of the second business loan under its Intermediary Relending Program (IRP) to recipient Minglewood Brewery of Cape Girardeau for $50,000.
“I’m very grateful to the Missouri Innovation Corporation for what they’ve been able to do for the brewery,” said Stuart Matthews, owner of Minglewood Brewery. “Their support for this small business is welcomed.”
Minglewood Brewery has been open since October on Friday nights and Saturdays serving a full bar while they finish their kitchen and brewhouse. The craft brewery will expand its hours and offer a food menu for guests once the kitchen is finished, resulting in the creation of several new jobs.
“We are so pleased to have Minglewood Brewery as part of downtown Cape Girardeau,” said Marla Mills, Old Town Cape executive director. “They have worked hard to create a place that is unique and what will soon be a destination sought out by locals and visitors alike. The opening is a win for downtown.”
With the MIC providing access to additional capital, MIC Chief Operating Officer Brian Tapp also expressed excitement about Minglewood Brewery’s positive impact on the area. “This is a great project that heightens the sense of place in downtown Cape Girardeau and the community,” said Tapp. To date, the MIC has loaned $75,200 of the $1 million investment it received from USDA Rural Development for the IRP revolving loan fund program.
IRP loan funds will continue to be made available by the MIC in the counties of Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Madison, Mississippi, New Madrid, Pemiscot, Perry, Reynolds, Ripley, Scott, St. Francis, Ste. Genevieve, Stoddard, and Wayne. Interested entrepreneurs and bank partners can contact Calvin Friedrich at (573) 651-2103 for more information or visit www.semo.edu/irie/mic.
About Missouri Innovation Corporation
The Missouri Innovation Corporation is a non-profit organization dedicated to fostering business and community development to create new, high-value jobs and positive economic benefits for Southeast Missouri State University and the region. The MIC facilitates the process of innovation to enhance the regional economy, including the technology transfer and commercialization of innovations derived from research within the University. For more information, visit www.semo.edu/irie/mic.