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MILWAUKEE – Central Standard Craft Distillery LLC is seeking a
loan from a non-profit business lender affiliated with the City
of Milwaukee.
The distillery wants to borrow $150,000 from Milwaukee Economic
Development Corp. to help finance its purchase of a still and
other equipment for its space at 609 S. 2nd St. in Milwaukee’s
Walker’s Point neighborhood, according to an MEDC report.
Central Standard is subleasing around 1,600 square feet from
Milwaukee Brewing Co., a craft brewery in the same building.
Central Standard will be operated by a group led by Evan Hughes,
a publisher of Phoenix, Ariz.-based DRAFT Magazine, which covers
craft brewing; Brandt Foster, a real estate underwriter at
Northwestern Mutual Life Insurance Co.; and Pat McQuillan, a
private banker at PNC Bank.
The MEDC loan would be combined with $750,000 in equity funding.
The MEDC’s Loan and Finance Committee will consider the request
on Tuesday.
The distillery would be in operation during the day, and at
night, it would operate a tavern to sell its spirits and
Milwaukee Brewing beers. The group plans to sell its first
products, vodka and gin, by early next year.
The business has one full-time employee, and plans to add an
estimated five full-time and five part-time employees within two
years.
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