Decision details

The Assistant Director for Regeneration and Economic
Development agrees to award The Pretty Decent Beer Company Limited a loan for the value of £110,000.00 (one hundred and ten thousand pounds) subject to a loan agreement being entered and evidence of signed lease, approval of appropriate licence(s) and any planning permission should it be required and evidence of match funding. It is proposed that a charge of 6.6% interest is applied to the loan and repayment are made over 60 months with a repayment holiday of 6 months (i.e., repayments begin at month 7).

Officers recommendation was approved by the PVF
Advisory Board on 27th October 2022 following the
evaluation of a funding application by officers and review
and assessment by an independent external agency.
The Pretty Decent Beer Company Limited is an
established microbrewery, operating since 2017. The
company has nearly doubled its production in each of the last three years and now needs to expand to meet
demand.
The Pretty Decent Beer Company is planning to install a
new brewhouse, refurbish the unit and fit out a taproom
and purchase three new fermenting vessels to implement
its expansion plan.
With this investment the company will be able to meet the growing demand for its product and expand into new
markets and wholesale. In the process the production will be more efficient and cost effective.
The applicant will be using the loan to renovate and
refurbish 3,200 sq ft of disused premises; install a new
brewhouse; purchase and install three new brewing
vessels. The investment will boost production from the
current level of 3,500 litres per week to 6,500 litres per
week and with potential to scale to 10,000 litres per week.

This project has been recommended for approval based
on the evaluation of an application and business plan
solicited through an open bidding round.
The evaluation process is set out in the application pack
core criteria of the fund. and the financial and operation
competency of the applicant
This project meets the main objectives of the productive
Valley Fund to promote production, improve productivity
and increase production in the Upper Lea Valley area.
The location of this business and its proximity to its
customers in greater London and southeast England
markets will support the efforts for carbon reduction and
last mile delivery initiatives. This project delivers on LB
Waltham Forest s effort to create a cluster of
microbreweries in their borough.
By not offering this loan we will miss a good opportunity
to support initiatives to promote microbreweries and
meet the demand for craft beer production in the Upper
Lea Valley.