DISCOVERED, BIGGER IS BETTER WHEN IT COMES TO GETTING ONE OF
THEIR LOANS.
THEIR LOANS. >> IT'S A VERY, VERY SMALL
BUSINESS.
BUSINESS.
BUSINESS. >> Reporter: FOR FIVE YEARS,
THE BEER FLOW FIND.
>> WE HAVE A STAFF OF FIVE.
WE LOVE BRINGING COMMUNITY TO
BEER AND BEER TO THE COMMUNITY
AND RIGHT NOW IT'S THAT MUCH
MORE DIFFICULT TO BE ABLE TO DO
THAT.
THAT.
THAT. >>
THAT. >> Reporter: LIKE SO MANY OTHER
SMALL COMPANIES, THE GOLD SPOT
BREWERY IN DENVER'S NORTH SIDE
HAS BEEN IN A VERY TOUGH SPOT
AMID THE SHUTDOWN.
>> IT'S BEEN REALLY TOUGH.
I MEAN, YOU CAN'T POSSIBLY PLAN
FOR THIS.
FOR THIS.
FOR THIS. >> Reporter: CO-OWNERS KHRISIA
AND RYAN APPLIED ON-LINE FOR A
SMALL BUSINESS PPP LOAN IN
EARLY APRIL WHEN THE GOVERNMENT
FIRST ACCEPTED APPLICATIONS.
>> WE HAD TO FURLOUGH ALL OUR
EMPLOYEES.
EMPLOYEES. >> Reporter: AMONG THE RUSH FOR
MONEY, GOLD SPOT LOST OUT, BUT
41,000 OTHER COLORADO
BUSINESSES DID GET THEIR SMALL
BUSINESS LOANS INCLUDING
ANOTHER COLORADO BEVERAGE
COMPANY.
COMPANY.
COMPANY. NEW AGE BEVERAGE PRODUCTS ARE
SOLD AROUND THE CORNER AND
AROUND THE WORLD IN 60
COUNTRIES AND ON THE NASDAQ
RECEIVED $6.8 MILLION THANKS TO
YOUR TAX DOLLARS.
THAT 1% INTEREST LOAN MAY BE
FOR GIVEN IF THE COMPANY SPENDS
MOST OF IT ON PAYROLL AND RENT.
>> WE HAVE MAYBE $300 MILLION
COMPANY $10 MILLION OF DEBT.
IT'S NOTHING.
IT'S NOTHING. >> Reporter: THIS IS NEW AGE
CEO BRET WILLIS ON YouTUBE
TALKING ABOUT THE HEALTH OF HIS
CAN BE JUST SIX DAYS BEFORE
RECEIVING THE SMALL BUSINESS
LOAN.
LOAN.
LOAN. >>
LOAN. >> IT DOESN'T GET ANY CLEANER,
ANY BETTER, AND IT IS REALLY
CHARACTERISTIC OF A
MULTIBILLION DOLLAR
MULTIBILLION DOLLAR MULTINATIONAL IN TERMS OF THE
KIND OF STRUCTURE WE HAVE.
>> Reporter: FILINGS IN THE
SECURITY AND EXCHANGE
COMMISSION SHOW HE MADE MORE
THAN $2 MILLION IN TOTAL
COMPENSATION LAST YEAR.
HOW DID THIS GLOBAL BEVERAGE
COMPANY THAT SELLS DRINKS LIKE
THIS AROUND THE WORLD GET A
SMALL BUSINESS LOAN AND THIS
SMALL BUSINESS OF A HANDFUL OF
EMPLOYEES DIDN'T?
EMPLOYEES DIDN'T? IT ALL GOES BACK TO BROAD
GOVERNMENT RULES AND WHAT
DEFINES A SMALL BUSINESS.
NEW AGE REPORTS THEY HAVE MORE
THAN 900 EMPLOYEES GLOBALLY.
THE GOVERNMENT CONSIDERS THEM A
SMALL BUSINESS BECAUSE THEY
HAVE LESS THAN 500 EMPLOYEES
INSIDE THE UNITED STATES.
THAT'S WHAT NEW AGE CHIEF
FINANCIAL OFFICER GREG GOULD
CLAIMED TO THE "COLORADO SUN."
>> CERTAINLY THE INTENT WAS TO
DISTRIBUTE TO BUSINESSES THAT
REALLY NEED THE FUNDS TO BE
ABLE TO MAINTAIN EMPLOYEES, TO
MAINTAIN OPERATIONS AND JUST
STAY IN BUSINESS.
>> Reporter: BROWN OF THE
NONPROFIT GOOD BUSINESS
COLORADO ASSOCIATION SAYS MOST
SMALL BUSINESSES IN COLORADO
DON'T HAVE BIG COMPANY THINGS
LIKE A CFO.
>> I THINK INHERENTLY, THE
PROCESS IS NOT FAIR BECAUSE IT
ABSOLUTELY FAVORS THE PEOPLE
THAT DO HAVE THE RESOURCES
ALREADY TO GET IN LINE FIRST
THAT HAVE THE ESTABLISHED
BANKING RELATIONSHIPS WHERE
THEY CAN PICKUP THE PHONE AND
THEIR BANKER IS GOING TO MAKE
SURE THAT THAT APPLICATION RISE
TO THE TOP.
>> THE THING IS WE LIVE IN A
FREE MARKET ECONOMY.
>> Reporter: YES, THESE ARE THE
REALITIES OF CAPITALISM SAYS
DR. FREELAND WHO SAYS THE
GOVERNMENT WROTE BROAD RULES SO
IT COULD GET MONEY INTO THE
SYSTEM FASTER.
SYSTEM FASTER. >> THE GOVERNMENT DID A PETRO I
DIDN'T GOOD JOB MAKING SURE
THAT THIS MONEY WAS REALLY FOR
THE EMPLOYEES, RIGHT, AND SO AS
LONG AS IT IS FOR THE EMPLOYEE,
AS LONG AS EMPLOYEES ARE GOING
TO GET THIS MONEY, THAT'S ALL
THE GOVERNMENT CARES ABOUT.
>> Reporter: HOW WILL NEW AGE
EMPLOYEES BENEFIT FROM THE $6.8
MILLION LOAN?
MILLION LOAN? AFTER NUMEROUS PHONE CALLS, E-
MAILS, MESSAGES TO THEIR
FACEBOOK PAGE, WE MADE IT CLEAR
TO NEW AGE BEVERAGE WE WERE
THIRSTY FOR A COMMENT.
>> THIS IS NATURAL LOGICAL FOR
ME MANEUVER ON THE BATTLEFIELD.
>> Reporter: ALL WE HAVE ARE
YouTUBE VIDEOS THAT SHOW CASE
THE CEO FEELINGS ABOUT BUSINESS
IN THE TIME OF COVID-19.
>> PEOPLE GET NERVOUS AND SO
THEY SAY STUPID [ BLEEP ] LIKE,
OH, WELL, WHAT'S THE HEALTH OF
NEW AGE OR WHATEVER.
THIS COMPANY HAS NEVER BEEN
STRONGER.
STRONGER.
STRONGER. >> Reporter: THAT DOESN'T
REFLECT THE RECENT SEC FILING
WHERE THE COMPANY ADMITS IT
WILL LIKELY CONTINUE TO INCUR
LOSSES AND MAY NEVER GENERATE
REVENUES EVENTUALLY PROFITABLE.
>> JUST SHOWING THAT WE WEREN'T
ABLE --
ABLE --
ABLE -- >> Reporter: GOLD SPOT IS STILL
TRYING TO GET A PPP LOAN IN THE
SECOND ROUND.
SECOND ROUND. >> I THINK IT'S REALLY
FRUSTRATING BECAUSE CRAFT BEER
IS SUCH A CORNERSTONE OF
COLORADO'S IDENTITY.
COLORADO'S IDENTITY. ALL OF THE