Loan Administration Board approves $86,000 brewery loan, backs $50,000 for Bedford Collab and grants three-month deferment for Barks and Rec

The Evansville City Loan Administration Board on Sept. 26 approved three financing actions: an $86,000 loan request from Barker Brewhouse, a $50,000 loan to Bedford Collab LLC from the City’s CRLF fund, and a three-month payment deferment for Barks and Rec.

Barker Brewhouse co-owner and head brewer Grant told the board the brewery opened in March 2023 and is seeking $86,000 to accelerate the second phase of a planned equipment expansion. "So we're here today requesting $86,000, to pull that second phase of the project up, in order to use our new equipment to its full capacity and, help us grow, and plan for the future," Grant said. He said earlier this year Old National provided about $99,500 for a brewhouse and fermenters and the business contributed roughly $35,000–$40,000 for accessories. Grant said brewery-produced beers account for about 40% of the taproom’s draft sales while representing only about 15% of draft offerings, yielding higher profit margins.

Board discussion addressed the loan’s security and disbursement method. A staff member said the board typically takes a…