Northeast Entrepreneur Fund, Inc.: SBA Lending Record

Northeast Entrepreneur Fund, Inc. in SBA data

Northeast Entrepreneur Fund, Inc. has 272 loans and $32.5 million of gross dollars approved, FY2017 to FY2026, in SBA's records. The loans are 7(a) throughout, with SBA 504 absent, and SBA lists MN. The page reports loans SBA shows the organisation holding or having held last, with SBA's guarantee behind them. A reassigned 7(a) loan is listed under the later holder.

Minnesota and Wisconsin

Minnesota accounts for 228 loans and Wisconsin for 44. Of the 272, 159 have no named class. Full-service restaurants head the rest with 41, limited-service restaurant has 14, beverage manufacturing 8, hotels and motels 6 and manufactured housing communities 5.

Cancelled approvals and losses

The cancellation share of approvals is withheld under Loan Analytics' own threshold, because the loans behind it are scarce, which is not the same as zero. Of the 243 loans disbursed in FY2017 through FY2021, 0.00% have gone to charge-off at minimum, 0.00% within five years of approval. Nothing is final for 243 open loans.

What a restaurant or lodging study tests

With 41 full-service restaurant loans, a restaurant study is the nearest match: sales per seat, kitchen labour, covers served at a realistic check and whatever rent the property can sustain. A limited-service study weighs counter and drive-through sales against labour cost. A beverage review looks at production capacity and what a specialised building would fetch. A hotel review covers what rooms earn against what they cost. A manufactured housing community study tests lot count, lot rents and the land value. The average loan is modest against many bank records, but the work should still show debt service coverage across a poor trading year, plus a value an appraiser can defend. With 159 loans in no named class, other property types must supply their own evidence.

Scale and silence

The record is small in dollars, $32.5 million across 272 loans, and silent in one respect: no cancellation rate is printed. The charge-off figures of 0.00% rest on 243 loans, a sizeable cohort, though loans still open can change them. Minnesota at 228 and Wisconsin at 44 show where the holdings sit. A borrower should treat the page as background for a study and not as evidence of how a new request would fare.