Summit Brewing Finds New Lender After Financial Struggles

There are certain beers that you might love more than others. Obviously. Especially if you like craft beers. Craft beers or something that is a little different than the beers that are more "commercial" or regular, as the case may be. There is nothing wrong with liking the "regular" beers. But sometimes you might want something that is a bit more local, or a craft beer.

A TWIN CITIES BREWERY WAS IN DANGER OF FORECLOSURE

Summit Brewing, which is a popular beer with many people, was in danger of closing their Twin Cities location.

Things were not looking good for their continued business, they were in danger of a foreclosure.

From KARE 11:

According to a civil complaint filed by BMO Bank last month, Summit owed the bank more than $8.2 million after brewery owners missed a payment in December 2025, and the company and the bank entered a forbearance period a short time later. Summit later submitted a written notice to the bank in June of 2026 stating the company could not make the minimum payment, saying its “liquidity and operational flexibility continue to deteriorate.”

Since then, there has, thankfully, been an agreement that has been made between the bank and the Summit President and CEO Brandon Bland. Apparently there has been a new lender who has stepped forward to take over the loans and making a new agreement with the brewery.

"working with the company’s management and ownership to develop and execute a recapitalization and long-term growth strategy aimed at strengthening Summit’s balance sheet and supporting its vision for the future."

NOW THEY ARE HOPEFUL THAT THEY WILL BE AROUND FOR YEARS TO COME

Summit Brewing has stated that they are looking forward to the new partnership and plan to be around for at least another 40+ years. We all hope that is the case. It's not something that anyone really ever wants to see - a business in Minnesota going under. It's tough everywhere, so luckily a deal was able to be made.

Next time you are planning on having a cold one - think about Summit!

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LOOK: Best Beers From Every State

To find the best beer in each state and Washington D.C., Stacker analyzed January 2020 data from BeerAdvocate, a website that gathers user scores for beer in real-time. BeerAdvocate makes its determinations by compiling consumer ratings for all 50 states and Washington D.C. and applying a weighted rank to each. The weighted rank pulls the beer toward the list's average based on the number of ratings it has and aims to allow lesser-known beers to increase in rank. Only beers with at least 10 rankings to be considered; we took it a step further to only include beers with at least 100 user rankings in our gallery. Keep reading to find out what the best beer is in each of the 50 states and Washington D.C.

Gallery Credit: Angela Underwood