[1]| Business Names / Operating Companies: | Fort George Brewery and Public House |
| Borrower/Eligible Passive Company: | Big Beams LLC |
| Industry: | Brewery & restaurant |
| Project Location: | 1483 Duane St. Astoria, Oregon |
| Financing Purpose: | Acquisition of the building the company currently occupies |
| Financing Structure: | 50% Lender, 40% Evergreen, 10% Borrower |
| Permanent Lending Partner: | Columbia Bank dba Bank of Astoria |
| Economic Development Goals Met: | Job creation, and assisting a rural business |
| Jobs Created and Retained: | 8 |
| Website: |
"We needed more space and wanted to buy the building we occupied," said Chris Nemlowill, co-owner of Fort George Brewery and Public House.
Fort George Brewery and Public House is a brewery & restaurant located in Astoria, Oregon. The company is owned by Chris Nemlowill and Jack Harris and has been operating since March, 2007. The brewery focuses on creating small batches of artisanal beers, many with unusual flavors. These change seasonally, are sold on tap in the restaurant and sold to pubs and restaurants throughout Western Oregon. In addition to providing food and beer, they also host live music and participate in many local festivals and community activities. The business is growing quickly.
The brewery occupies a portion of a two-story wood frame building built in 1924. The building is part of the town's history, but had fallen into disrepair with a vacant upper story with broken windows that gave pigeons a place to roost. Still, they saw its potential.
"Finally, the owner was willing to sell at a price we could consider," said Nemlowill. "Walt Postlewait at Bank of Astoria laid out several financing options, but he steered us in the direction of the 504 loan because of the low down payment and low interest rate."
"The ability to buy our building has inspired us. We can continue to grow rather than choking and flattening out our growth. We plan to create 20 jobs over 5 years." With the extra square footage they plan to purchase a bigger brewery system and, for the first time, package their own 16 oz cans. They can add a second bar and provide meeting and event space as well.
"Our city wants to revitalize our downtown. We think helping businesses occupy and renovate old spaces - say, with the 504 program - is a way to make our community sustainable. Bring the buildings to life from the inside out.
"Lynn Beadling was wonderful and easy to work with. Walt held our hands and got us through it. We recommend the 504 program to other businesses because of the structure and interest rate. It made the purchase doable for us."