A building with the words sba 5 0 4 loan-commercial equipment purchase & renovation.

504 Loan with SomerCor Sets Up Obscurity Brewing and Craft Mead for Success

01/26/2021|SomerCor|Bars/Restaurants, Client Success Stories, Commercial Real Estate, Equipment, Illinois, Renovation, SBA 504

Company Profile

The founders of Obscurity Brewing and Craft Mead have been brewing, producing mead, and distilling for over two decades. Founded in 2018, Obscurity is a brewery, mead distillery, and restaurant based in Elburn, IL. The location of the business is a personal one for the founders. They wanted to center the business around the community many of them live in, grew up in, and represented.

Obscurity is located in the now preserved old Farm Services Offices and Warehouse space in the heart of the Agro-district. Taking their commitment to Elburn another step further, they pledge to locally source as much as possible – down to re-purposing their spent grain for local farms within the area.

SBA 504 Loan with SomerCor

The team behind Obscurity are experienced entrepreneurs. They already own and operate two other brewpubs, one of which was refinanced using the SBA 504 program in partnership with SomerCor. The location in Elburn required extensive renovations and heavy equipment purchases to transform the property into a 7,100 square foot establishment. By utilizing the 504 instead of a conventional loan, the required down payment dropped from 20% to 15%, leaving significantly more liquidity for the owners during the critical start up phase of the business.

“We love the 504 program because it allowed us to get fixed, long term financing on the property purchase, buildout, and equipment – setting us up for long term success,” said Obscurity Founder, Luke Goucher. “We have used this product twice now and plan on using it in the future for more projects. It is a proven winner and we love the partnership with SomerCor given the staff’s care and involvement in their customer base.”

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Obscurity Brewing and Craft Mead is Open for Business!

Visit https://www.drinkobscurity.com/ or call (630) 320-2255 to learn more about their offerings.

Download the program flyer and connect with a member of SomerCor’s loan origination team to learn more about how the SBA 504 loan program supports improved cash flow for small businesses.