QUINCY, Calif., Nov. 19, 2014 (GLOBE NEWSWIRE) -- Plumas Bank, a wholly-owned subsidiary of Plumas Bancorp (Nasdaq:PLBC), announced today that Argonaut Brewing Company, Inc.,owned by Michael Dennis Ryan, a United States Air Force veteran, (Aircraft Electrical Systems Specialist (E-4) – 1970 to 1974), has secured a small business loan to purchase commercial real estate and start up a craft beer brewer (microbrewery) and taproom in Rancho Cordova, California. This financing, provided by Plumas Bank's SBA Lending Division, brings a dynamic small business offering to Rancho Cordova, spurring job growth and economic revitalization for California as a part of a public-private partnership made possible through the Small Business Administration's (SBA) 7(a) lending program.
Plumas Bank President and Chief Executive Officer, Andrew J. Ryback, stated, "On behalf of Plumas Bank, it gives us great pleasure to assist veterans in securing the necessary financing they need to start a business. We are proud to partner with U.S. Veteran, Mike Ryan, and we look forward to watching Argonaut Brewing Company, Inc. flourish in the years ahead and to serve as a continual resource and guide for the organization moving forward."
Michael Dennis Ryan, United States Air Force Veteran and owner of Argonaut Brewing Company, Inc., commented, "The Argonaut Brewing Company is excited to have teamed up with Plumas Bank and the Small Business Administration to make possible a life's dream. The Argonaut Brewery will be producing craft beer using locally sourced ingredients, brewed for the Sacramento area's burgeoning craft beer scene. The Argonaut Brewing Company will begin production in late spring of 2015."
Ryback added, "Plumas Bank's priority has always been to provide financing to our borrowers to enable them to pursue the dream of American business ownership. By joining alongside other 7(a) lenders in the small business community, we can ensure that entrepreneurs have the critical access to capital they need to follow their dream to start and grow their own businesses. This has been our longstanding passion and we look forward to continuing to make a real difference in the lives of small business owners throughout our region."
ABOUT MICHAEL DENNIS RYAN and the ARGONAUT BREWING COMPANY, INC.:
Michael Dennis Ryan started "home brewing" while in college and has continued to brew since. A bacteriology class project and a love of craft beer led to a dream of becoming a brewer. After a period in the U.S.A.F. and 37 years of federal civil service, it was time to pursue his dream. Along with Brian Palmer, his son-in-law, and Dan Connolly, the Argonaut Brewing Company was born.
In the mid 1800's gold seekers having sailed around the "horn" to San Francisco, booked passage up river to the gold fields of the central valley. These folks were known as the "Argonauts". To honor these brave folks, who were willing to take a risk and work hard for a dream, Ryan and his partners have chosen the Argonaut Brewing Company name.
ABOUT PLUMAS BANK:
Founded in 1980, Plumas Bank is a locally owned and managed full-service community bank based in Northeastern California. The Bank operates eleven branches located in the counties of Plumas, Lassen, Placer, Nevada, Modoc and Shasta. Plumas Bank offers a wide range of financial and investment services to consumers and businesses and has received nationwide Preferred Lender status with the United States Small Business Administration. Plumas Bank is proud to be a 7(a) lender, joining thousands of institutions across the country committed to leveraging small businesses as an incubator of economic revitalization. For more information on Plumas Bank, please visit our website at www.plumasbank.com.