Prost! Portland

Thank you to our Lending Partners on this Project:

This story comes from our 2018 archives, but its impact continues to resonate today.

Christian Navarra and Dan Hart are no strangers to the challenges of owning and operating restaurants. Since 2009, the Portland entrepreneurs have built a thriving hospitality business centered around authentic German food, imported bier, and community gathering spaces. Over the years, they opened two German-themed restaurants and a gastropub, creating beloved neighborhood destinations throughout Portland.

When the opportunity arose to purchase the real estate housing Prost!, in Portland’s historic Mississippi District, the partners recognized it as a chance to secure the long-term future of their growing business. To make the project possible, Christian and Dan partnered with NWBDA and Beneficial State Bank to utilize the SBA 504 Program financing.

The project included the acquisition of the existing Prost! building along with two adjacent properties, a food cart pod and a single-family home. The additional real estate created new opportunities for expansion and operational efficiency. The food cart pod and shared outdoor area allowed Prost! to significantly expand its Biergarten seating, enhancing the customer experience and creating additional capacity for large community events like Oktoberfest. Meanwhile, the neighboring home was converted into office and storage space to support the partners’ expanding operations.

For Christian and Dan, the SBA 504 loan program provided more than just financing, it provided stability and a path for sustainable growth.

With its long-term, fixed-rate structure and lower down payment requirements, the SBA 504 program helped preserve working capital while allowing the business owners to invest in owner-occupied commercial real estate that would support their future expansion goals.

“NWBDA wasn’t intimidated by the complexity involved with this opportunity,” said Christian Navarra in 2018. “Mark assured me he would be there every step of the way, and throughout the process he explained everything in a language I understood. This financing allowed us to take control of the Prost! property, expand our business, and improve efficiencies across all of our locations. In fact, we just [in 2018] celebrated our largest Oktoberfest ever thanks in part to the new space we can now utilize.”

By helping the small business owners secure long-term financing through the SBA 504 program, NWBDA enabled the business to remain rooted in the in their current location while positioning it for continued growth and investment in the local community.

Today, the project serves as a strong example of how SBA 504 financing can help growing small businesses purchase commercial real estate, expand operations, preserve cash flow, and create lasting economic impact in the communities they serve.

Visit their website: https://www.prostportland.com/