Milwaukee Brewing Co. is seeking a $500,000 loan from a nonprofit lender to help finance its new facility under construction at downtown Milwaukee’s former Pabst brewery.
Milwaukee Economic Development Corp. is to consider that loan request at its Tuesday meeting. The MEDC loan would be part of a financing package for the $8.6 million project, according to the agency.
The primary lender is First Business Bank, with the funds paying for both $3.4 million in building improvements and $5.2 million for equipment and working capital, according to MEDC.
Milwaukee Brewing, led by James McCabe, has 63 full-time and 70 part-time employees. It plans to add 20 employees, divided equally between full- and part-time, over the next two years.
Milwaukee Brewing is redeveloping part of the former Pabst distribution center into a brewery and tasting room.