Business Loans

• A standby letter of credit is issued by the bank substituting its financial strength in place of the borrower and guarantees financial compensation in the event the borrower defaults on its obligation or responsibilities to the beneficiary, failing to perform according to a specific contractual arrangement.

• Used by companies that import goods from foreign or domestic markets to assure the seller that the purchase price will be paid. A letter of credit is issued by a bank substituting its financial strength in place of the importer's and authorizing the seller to draw drafts on the Bank, provided certain specified terms and conditions are met.

• A business loan secured by stocks (of the borrower) which provides retirement and/or ownership benefits for employees.
• The loan may also provide special tax benefits to the borrower. (Consult your tax advisor.)

• A loan facility that is guaranteed up to 70% by the Taiwan government specifically designed to assist start-up companies in Hawaii.
• Restricted to immigrants of Chinese ancestry who own at least 60% of their businesses.
• Mainland China immigrants do not qualify.

• Small Business Administration (SBA)
• U.S. Department of Agriculture (USDA)
• State of Hawaii Agricultural Loan Program
• HEDCO Local Development Corporation Loans

• Loans to finance the renovation/repair of a common area or to purchase an asset that will become a part of the common area.
• Loans to purchase the leased fee and/or sandwich interest of the property.
• Loans to purchase a resident manager's unit for the project.
• This program can also be applied toward Cooperatives, Condotels, Interval Owners Associations, and Planned Unit Developments (PUD).

• Hawaii Food Service Industrial Wastewater discharge permit renewals now require food service businesses to purchase and install large capacity grease trap interceptors. This loan is restricted to the purchase and installation of this equipment.
• Two categories: Loans up-to-$25,000 and loans of more-than-$25,000.
• Interest rates may be either fixed or floating.
• Interest rates are based on Hawaii National Bank's base rate plus an index.
• Terms vary.

• Loans to medical professionals to finance purchase of office, equipment and improvements

• Loans to certified public accountants to finance the purchase of office, equipment and improvements