Kailua Kona, Hawaii Business Gets SBA-Guaranteed Funding from Hawaii Community Fcu

An SBA loan from Hawaii Community Fcu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kailua Kona, Hawaii business owner got a $35,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kailua Kona, Hawaii was able to borrow $35,000 from Hawaii Community Fcu. The SBA made the loan possible by guaranteeing $17,500 of this Hawaii small business loan.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
KAILUA KONA, HI 96740

SBA Loan Lender

HAWAII COMMUNITY FCU
73-5611 OLOWALU ST
KAILUA KONA, HI 96740

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

8/27/2007

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $17,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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