FRESNO, Calif. – Full Circle Brewing Co., Fresno-based craft brewery, announces their progress of securing $800,000 of capital. They are more than three-fourths to their goal which is projected to increase their productivity by ten fold.
Full Circle is the first brewery west of the Rocky Mountains to tap into this finance alternative. This would not be possible without Breakaway Funding LLC, a Sausalito-based crowdfunding firm, and Fresno First Bank (FFB), a community financial institution serving Central California.
The hybrid funding vehicle (Community Capital Marketplace/CCM) pioneered by Breakaway, included a first tranche crowdfunded equity raise of $124,000 and an additional $685,000 in traditional SBA debt financing from FFB’s crowdfunding loan program that is part of an agreement signed with Breakaway last year. This was signed by Full Circle’s CEO–Arthur Moye. Working with Breakaway and Fresno First, Moye was able to access funds from a Fresno First loan portfolio commitment available to customers who are working with Breakaway Funding to reach their capitalization or financing needs.
CEO Arthur Moye expressed, “We are humbled by the community’s response, happy to welcome our new investors, and ready to put the capital to work. We see a bright future for Full Circle, downtown Fresno, and Chinatown.” Continuing, “Truthfully our success would not be possible without the support of the City of Fresno, our investors, and amazing staff.”
The funds will be used to purchase new brewing equipment to help Full Circle meet its craft brew demand, make other enhancements to its building to accommodate increased patron occupancy, and to can and distribute craft beer to retailers throughout California. With these additions, the brewery will also be looking to add a number of varied jobs. Full Circle Brewing welcomes its community to invest in our local brewery for as little $500. If you are interested in learning how to invest and become a part of the family visit www.tapin.beer.
“We are extremely pleased to have been able to support this project,” said Breakaway founder/managing partner Kim Kaselionis. “Full Circle is a thriving company in a high growth field with a loyal following, but, as with many young companies, traditional financing was not available from the outset. We were able to leverage CCM, our proprietary crowdfunding hybrid approach, with Title III (Regulation CF) of the JOBS Act of 2012 to make this happen.”
Beertainment, coined by Full Circle Brewing, has been an important business approach. Full Circle has hosted many well-known local bands including Patrick Conterez, John Clifton, and Simple Sensation. The venue also saw worldwide headliners such as E-40, Bone Thugs-N-Harmony, P.O.D., Alien Ant Farm, and Puddle of Mudd. Last year, the brewery hosted over 250 events. With the collaboration of many new, notable, and local promoters, Full Circle aims to be a prime destination for downtown entertainment.
When the Breakaway/FFB agreement was announced, the bank’s CEO/president Steve Miller said, “We are excited about this working relationship. It breaks new ground in how local businesses and entrepreneurs can take advantage of both equity crowdfunding and work with established financial institutions to meet their ultimate funding needs.”
For more information on how to “Tap Into Full Circle”, visit www.tapin.beer.
About Full Circle Brewing
Full Circle Brewing is Fresno’s longest running brewery re-created to enrich our community by combining life’s simple pleasures with exceptional craft beer. As a full-scale production craft brewery and live entertainment venue, we pride ourselves in creating a fun destination bringing together artists, and craft beer enthusiasts alike. Our logo represents the rebirth of our city, brewery, and our lives. We believe time is the most precious nonrenewable resource and now is the time to live a little, be entertained, and bring your life of hoppiness FULL CIRCLE.
About Fresno First Bank
Fresno First Bank, founded in 2005 in Fresno, California. Fresno First Bank is a leading SBA Bank Lender in California’s Central Valley. The Bank was named by Forbes as one of the Best 25 Small Businesses in America for 2016, and as one of the Inc. 5000 Fastest-Growing Companies in America for 2017. Additional information is available from the Company’s website at www.fresnofirstbank.com or call 559-439-0200.
About Breakaway Funding LLC
Sausalito-based Breakaway Funding (www.breakawayfunding.com) is a pioneer in the Community Capital Marketplace (CCM), uniting traditional financing with equity crowdfunding to propel innovation, job creation and new opportunities for investors. Employing securities-based crowdfunding platform, Breakaway allows local businesses access to capital and flexible financing to meet their on-going capital needs by helping them to reach potential investors, including community financial institutions. More information is available at 415-729-9482.