Loan Issued to Help Malden Brewery
September 15, 2021 : High-Profile Monthly
Malden, MA – MassDevelopment has provided a $75,000 equipment loan to Idle Hands Craft Ales to help the company buy canning equipment for its facility at 89 Commercial St.
Bringing its canning operations in house will allow the growing company to save money long term, improving its cash flow and profitability. This is MassDevelopment’s second loan to Idle Hands; in 2016, the agency provided a $340,000 loan to help the company buy equipment for its 5,300sf facility.
Established in 2011 and located a block away from the Malden Center MBTA station, Idle Hands produces German-style pilsners, barrel-aged sour beers, and American IPAs and experiments with flavors and different brewing methods. The brewery was voted Best Brewery in Boston Magazine’s 2020 “Best of Boston” series.
MassDevelopment has helped many breweries in Massachusetts increase operations, create jobs, and provide an economic boost to cities and towns across the Commonwealth.