So, yes, we know our blog has been bastardly neglected since the start of construction. The short excuse is we’ve been busy. And a bit stressed. And even more busy. But not so much in a bad way. We officially started this project in August of 2010 and wired our first equipment deposit in November of the same year. This wire went out roughly 2 weeks before officially signing our Corporate documents, which we did in the bank parking lot on the way to open the corporate account. From there, it’s been one hell of a ride.
I could probably write for days on the trials and tribulations we have experienced, the emotions felt, and seemingly endless array of shit going wrong, but I’m not. There’s just one story I’d like to share today and it’s one of complete ignorance and arrogance. I’ve heard this referred in many entrepreneurial circles as perseverance, but that just doesn’t seem to fit the bill. You see, we made the choice to make our first equipment deposit prior to financing for the simple reason that this was our dream and we weren’t going to let anyone stand in our way. We knew we’d get it done. We just didn’t know how rough and rocky the road would be to get there.
To make a really long story short, we recently closed on a SBA loan that we first applied for 13 months ago. We were approved in June and its taken roughly six months to close. If you’re following along in the timeline, we delivered our first keg to market on 11/11/11. It would be several more weeks before the loan would close, but at this point it had become almost comical to us at the brewery. To open in lieu of a loan, we had to fully subscribe our investor offering, bring in a bridge lender, take on short term notes, and complete the purchase of our building using a very creative seller financed leaseback purchase. To think back, I can only assume it was pure ignorance that kept us pushing through. The SBA system is a broken system, set up as an endurance test, and one that most people fail. It can only be assumed that it was pure arrogance that knew we’d come out on top.
I know this is just a tease into the journey to date, but we’ve got work to do. It’s time to fill in all the gaps that a bootstrapped penny pinching company has to neglect. It’s time to build our brand and deliver some of the most badass, artistically driven microbrews ever seen in Texas. You’ll soon notice a makeover of the website and a great bit of work being completed at the brewery. The green light is on and it’s time to get moving. We greatly appreciate your support and look forward to many great years ahead.
Deep Ellum Brewing Co