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May 12, 2024 |
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| Home > Small Business Lenders by State > Hawaii Business Loan Sources > Honolulu, Business Loans > Bank Of Hawaii Honolulu Business Loans > Concrete Work Loan | ||||
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Hawaii Business Loans from Bank Of Hawaii
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Kailua-Kona, Hawaii Business Gets SBA-Guaranteed Funding from Bank Of HawaiiBank Of Hawaii is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Hawaii entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of Hawaii, out of Honolulu, Hawaii. The loan was granted and they received $75,000 to help grow their Kailua-Kona, Hawaii business. SBA Loan Borrower COMPANY TYPE: CONCRETE WORK SBA Loan Lender BANK OF HAWAII This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1771 - Concrete Work NAICS Code 235710 - Concrete Contractors Loan Approval Date 9/6/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $60,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of Hawaii and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Realistic Debt Financing Options Who Lends Money to Small Businesses in Honolulu, Hawaii
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