It’s a well-established fact that Colorado loves microbreweries. With over 200 breweries of varying sizes and specialties, Colorado is often considered the Napa Valley of beer. When the call for help rang out from one of Montrose’s own breweries, the Horsefly Brewing Company, Region 10 answered the call.
The Horsefly has been serving brews and pub-style food to the Montrose community since 2009. Since its inception, it has continued to grow in popularity. While business growth and ever-increasing demand are common goals for most businesses, these changes also present some challenges. “The problem was we were running out of beer, and we needed another brew-house and a bigger brew system,” Horsefly owner Phil Freismuth explains. “Also, on Friday and Saturday nights, people would walk in the front door, and just leave because there were no others seats.”
Freismuth went on the hunt for funding. He was already familiar with what many small business owners know all too well: Getting a loan can be difficult and frustrating. “When we first moved into our current building, [the banks] wouldn’t loan us the money because we were too new, the brew equipment was too unique, and we didn’t have enough history.”
He had heard of Region 10 and its access to small business loans. “I called Vince Fandel (Region 10’s Small Business Resource Director), and he took it from there,” Freismuth says with a smile. “He took the ball and ran with it.” Fandel was able to leverage SBA funding and additional financing from Alpine Bank to make the loan process seamless from Freismuth’s perspective.
Alpine Bank was a crucial partner in this equation. Vice President Tyler Dahl and the entire staff at Alpine Bank have had a relationship with Horsefly for several years. When given the opportunity to assist this thriving local business, Alpine Bank was more than happy to work with Fandel and Region 10 to take care of their needs. “Being able to help a local business is what makes working for Alpine such a fun and rewarding job,” says Dahl. “We are excited to have been part of the continued success of a great business in Montrose.”
Through his efforts, Fandel secured enough financing to help the Horsefly expand. The expansion included constructing a new 800 square foot brew-house, adding 20 additional indoor seats, and increasing cooler and freezer space for the kitchen. In addition, Fandel helped coordinate the purchase of the building where the Horsefly currently resides at 846 E. Main in Montrose. “Vince saved me a lot of leg work,” Freismuth continues.
Since the expansion, business continues to thrive at the Horsefly. The brewing company has now expanded into off-site locations at the Montrose Regional Airport and the Black Canyon Golf Club. Employing nearly 30 staff members and now being full-fledged commercial property owners, the Horsefly has come a long way these last five years. Region 10 is honored to be a part of that small business growth and economic development. Be sure to drop in for a pint at the Horsefly and see the work that has been completed to the property.