NAB finances Johns Family Enterprises LLC
Native American Bank 2013
Native American Bank was given the opportunity to finance a very unique business on the Seminole Brighton Reservation in Central Florida. The Johns Family Enterprises, LLC (JFE) is a tribally owned LLC which operates a new compost manufacturing facility on 85 acres near the community of Lakeport in Brighton, Florida. The LLC's ownership is made of Stanlo Johns, a Seminole Elder and his two sons, Todd and Jeff and the Seminole Tribe of Florida, a minority owner.
NAB approved a $5.2 million term loan to allow JFE to construct a state of the art facility operated by McGill Environmental Systems, a world class compost manufacturer headquartered out of North Carolina, which has the processing capacity of 100,000 tons and is expected to employ up to 20 employees. NAB utilized the BIA loan guarantee program which allowed the project to become a reality.
The project is currently under construction and scheduled to open in August 2014. The unique business model with tribal members and tribal government coming together to start an environmentally friendly and economically stable business can be replicated to start additional businesses across Indian Country.