The Penny Ice Creamery opened earlier this year in Santa Cruz, CA, with the mission- to make great ice cream from scratch. Despite a bad economy, they were able to do this with help from the American Recovery and Reinvestment Act of 2009 which President Obama signed back in February of 2009. The Recovery Act allowed for the SBA to guarantee up to 90% of a 7(a) loan, and allowed my colleague Zach to open up shop!

The Penny Ice Creamery put up this video to thank the Obama Administration, Senators Boxer and Feinstein, Representative Farr, and others that helped support and pass the Recovery Act. Zach and Kendra explain how The Penny Ice Creamery “stimulated” the local economy through not only their startup purchases, but also their ongoing contribution to the local economy. The ripple. In the video, they highlight how the loan went to local equipment, contractors, designers, architects, local ingredients from local suppliers, and to lots of employees!

Congratulations Zach and The Penny Creamery, see you guys in a few weeks!