There’s nothing small about running and financing a small business – and there’s nothing small about American Savings Bank’s commitment to business owners. We’re proud to be recognized as one of the leading originators of Small Business Administration (SBA) loans in Hawaii, and we’re ready to help you to start or purchase a business. If you’re already a business owner, we can help you to purchase equipment, upgrade your facilities, or expand your reach.
Just ask, and we’ll help you qualify for the SBA program that fits your needs, your goals, and your finances.
Requirements: Loan proceeds must go toward creating or retaining jobs
Maximum Loan Amount: $2,000,000 (higher amounts partially guaranteed by the SBA may be available).
Terms: Depend on the purpose of the loan*
**For example, term loans may be up to five to seven years for working capital and up to 10 years for fixed assets such as equipment or real estate.
Ideal for start-ups and established small businesses. The 7(a) Loan has a maximum amount of $2,000,000. The SBA will guarantee up to 85% of loans $150,000 or less and up to 75% of the loan for amounts greater than $150,000.
Use this loan for:
Streamlined processing reduces the cost of smaller and less complex SBA loans.
The Patriot Express Loan is an initiative by the SBA for military veterans and members of the military community who want to establish or expand a business.
The program under which American Savings Bank and the SBA help small businesses meet their short-term and cyclical working capital needs with a line of credit. Depending on the type of line of credit you need, additional requirements may apply.
504 Certified Development Company (CDC) Program
If your small business will help create jobs, this may be the program for you. Your company gets long-term fixed-rate financing for major fixed assets, such as owner-occupied land and buildings or heavy manufacturing equipment.
Here’s how it works: