Small Business Loan Programs in Hawaii

1. SBA Loans via Local Banks

The U.S. Small Business Administration (SBA) supports Hawaii businesses through flexible, government-backed loans available via local partner banks.These loans typically offer lower interest rates and longer repayment terms, making them ideal for startup funding and expanding businesses. Key SBA lenders in Hawaii include:

• Bank of Hawaii: Offers SBA loans tailored to small business needs, including lines of credit and term loans.
• Central Pacific Bank: Provides SBA 7(a) and 504 loans, ideal for commercial real estate purchases and equipment upgrades.
• Hawaii National Bank: Offers SBA Express loans for fast, flexible business financing.

2. Office of Hawaiian Affairs (OHA) Loan Programs

The Office of Hawaiian Affairs supports Native Hawaiian entrepreneurs through loan programs focused on empowerment and equity:

• Mālama Business Loan: Loans between $2,500 and $149,999 at 4.00% APR to support Hawaii startups and working capital needs.
• Hua Kanu Loan: Designed for established Native Hawaiian businesses needing real estate funding in Hawaii or expansion capital.

3. CNHA Microloans for Native Hawaiian Businesses

The Council for Native Hawaiian Advancement (CNHA) provides microloans up to $50,000 for small businesses and nonprofits across Hawaii.With an average loan of $13,000, these funds are ideal for healthcare practices or service businesses needing short-term capital.

4. Hawaii Capital Assistance Program (HI-CAP)

HI-CAP offers flexible capital for payroll, inventory, and facility upgrades—especially for law firms or tourism-related businesses impacted by economic downturns.

Small Business Grant Opportunities in Hawaii

1. HSBIR Innovation Grants

The Hawaii Small Business Innovation Research (HSBIR) program supports local tech-based startups through:

• Phase 0 Grants: Up to $3,000 to help businesses prepare competitive SBIR proposals.
• Matching Grants: Up to 50% of costs matched for businesses that secure federal SBIR Phase I awards.

These grants help cultivate Hawaii’s innovation economy—perfect for startups in tech or research.

2. Maui Business Recovery Grants

In response to the 2023 wildfires, the state launched dedicated grant programs for affected Maui businesses:

• Maui Small Business Recovery Grant: Offers $5,000 for directly affected businesses.
• Maui Business Bridge Grant: Provides flexible support to those indirectly impacted.

These grants provide vital relief for real estate investors and local service providers.

3. Amber Grants for Women in Hawaii

WomensNet’s Amber Grant awards $10,000 monthly to women-owned businesses—ideal for female attorneys or healthcare entrepreneurs in Hawaii.

4. Federal & Cultural Grants

Native Hawaiian Library Services Grants: Up to $150,000 to support cultural programming—great for nonprofits needing community-focused funding.

Steps to Apply for a Small Business Loan in Hawaii

• Step 1: Define your funding purpose — Specify if you need capital for healthcare equipment or commercial property.
• Step 2: Draft a detailed business plan — Include financial forecasts and competitive insights.
• Step 3: Organize documents — Tax returns, balance sheets, and licenses.
• Step 4: Check eligibility — Match your needs to SBA, CNHA, or OHA programs.
• Step 5: Apply strategically — Target lenders familiar with Hawaii-based startups.

Conclusion

Hawaii offers diverse funding options, from real estate loans to healthcare practice financing. For personalized guidance, contact our team or explore our about page to learn how we support Hawaiian businesses.
Source: Small Business Loan Programs in Hawaii