Stearns Bank National Association: SBA Lending Record

The Stearns Bank National Association record

SBA lists 3,456 loans approved in FY2017 to FY2026 under Stearns Bank National Association, with gross dollars approved at $1.23 billion. Program by program, 7(a) holds 3,456 loans and 504 holds 0 of them. As with every lender page here, the loans are those SBA reports the bank holds or last held, and the page does not state who made them.

Restaurants and fitness lead the classed loans

1,979 loans fall outside any asset class. Among the classed loans, limited-service restaurant is largest at 434. Fitness center follows with 317 and beauty salon with 191. Full-service restaurant has 114, coffee shop and snack bar 113 and automotive mechanical repair (car and truck) 54. Small service businesses with modest buildings thus fill the classed part of this record. For that kind of project, a feasibility study spends its effort on lease and build-out cost, the sales a unit needs to cover debt, and what an appraiser can support.

Where the loans are

Texas has 426 loans, California 360 and Florida 358. Georgia has 173, Minnesota 162, North Carolina 148 and Colorado 135. Minnesota appears in the list, yet Texas, California and Florida carry more loans by count, so the file spans the country rather than one home market.

A low cancellation floor and charge-off floors

A mere 3.5% of approvals in FY2017 to FY2024 ended in cancellation, with the ceiling landing on that identical 3.5%. Charge-offs to date reach 8.9% across the 2,733 loans disbursed in FY2017 to FY2021, a floor, and 5.6% came inside five years of approval. Both figures are pooled across all trades, and loans continue to age, so a floor is not a final rate. Later loans are not in the cohort. A borrower should treat both as background for the conversation with a lender and never as a prediction for a new project.

What this means for a borrower

This record tells a borrower what mix the holder carries; it tells nothing about a new request. The feasibility study is where the project makes its own case: market demand at the chosen site, a realistic cost, debt service coverage tested against softer sales and a supported appraisal. A lender reading those pieces can judge the project directly.