How a $10K microloan turned into a $4M+ business and long-term partnership with Duluth Coffee Company

Today, you can sip a fresh cup of Duluth Coffee Company on Superior Street, grab a bag in your grocery aisle, or have a subscription delivered right to your door. But 15 years ago, the only way to get it was from the bed of Eric Faust’s ’91 Ford F-150.

“For me, coffee has been what I was created to do, and I knew that very early on,” said Faust, founder and owner of Duluth Coffee Company in Duluth, MN.

Accessing Capital at a Critical Moment

Turning that passion into a business led Faust to the Entrepreneur Fund (EFund) in 2011. As a U.S. Small Business Administration resource partner, EFund provided a $10,000 microloan to help him purchase a 3-kilogram coffee roaster, allowing him to increase production and meet growing demand.

“I asked for money because I had to, and $10,000 was a gigantic number. It still is a gigantic number. But especially at that time,” said Faust, who was a new dad and first-time homeowner when he took out the loan.

From First Roast to 400,000 Pounds a Year

Since that first loan, and subsequent EFund loans and programs, Faust has grown the company exponentially. He’s gone from that small 3-kilogram roaster to roasting over 400,000 pounds of coffee in a year. From selling at local farmers’ markets to selling in every Costco in the state of Minnesota. He’s added a wholesale department, a retail coffee shop, a restaurant, technical services to regional coffee shops, and even a new chocolate-making department.  

“If it wasn't for the Entrepreneur Fund, we probably wouldn't exist,” said Faust in a 2026 interview ahead of the 2026 Distinction Awards, for which he was honored for his brand integrity and expansion via a multi-channel model. “I didn't even have anybody in my life that wanted to take that kind of risk, you know, and I'm still floored that they even did.”

Duluth Coffee Company recently crossed the $4 million mark in revenue and now employs over 30 people, jobs that Faust says pay more than he ever imagined paying himself. With the support of EFund, he also recently purchased the corner building on Downtown Duluth’s Superior Street.

“I didn't know anything about purchasing commercial real estate or even how to go about it,” said Faust. “I just knew that it was really important that I owned the building that my company was in for the security of the company and the security of my employees. That was the goal, and EFund helped me get there. So, our future is bright. I'll be an old man, and somebody else will run this company, and nobody's kicking us out. And that feels so good.”

Support That Grows with the Business

Whether you’re just getting started or planning your next phase of growth, EFund offers lending and advising services to help move your business forward and support what comes next.

Learn more about our microloan program or get started with EFund lending and advising services by completing this form or emailing us at info@efund.org.