Glenn Distributing
They’re well prepared. The Progress Fund staff know what needs to be done, and they let you know what needs to be done.
People
As a teenager, Mike Glenn delivered for a beer distributor, and he never forgot the warm interactions with fun-loving customers. After 30 years working in law enforcement and security, he says, “I started looking for a beer distributor to buy.” He and his wife, Kelli, found and bought one in Millvale, a town vibrant with entertainment venues. The purchase arrangement included a large balloon payment. As the due date approached, Kelli, Partner and CPA at Wilkes CPA’s & Advisors, explored financing options – found tangles of red tape. A partner in her firm recommended The Progress Fund.
Progress
The Progress Fund loaned $806,089, covering the balloon payment and freeing up other funds for business improvements.
Impact
Millvale draws people who appreciate craft beer. “They’re looking, they’re asking questions,” says Mike. “We have some really great customers who come in, they’re super pleasant, they’re concerned about you, you’re concerned about them.” Still, most of Glenn Distributing’s sales are to bars or restaurants, where margins are tighter. Without the balloon payment to worry about, the Glenns can remodel their space, creating a more attractive and accessible storefront to draw more profitable walk-in business. “We want to create a family business,” says Mike, “and be there a long time.”
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