Hua Kanu Business Loan

The Hua Kanu Business Loan Program is available to Native Hawaiians who own established business. Created on July 17, 2013, the low-cost loans are intended to help these small-businesses expand. It is meant to provide them access to credit and capital that allow them to grow as well as remain financially viable.

Some uses of the loan:

  • Purchase equipment or inventory
  • Working capital

Amount:

$150,000 – $1,000,000

Rates & Terms

  • Applications will be processed on a first come, first served basis
  • OHA refers potential loan applicants to a technical assistance provider that guides applicants in completing the loan application packet
  • There are certain activities for which loan monies cannot be used
  • Note: The OHA Hua Kanu Business Loan is NOT the OHA Mālama Loan
  • 7-year loan term; interest rate is 4.00% APR

Eligibility

  • All Principals must be U.S. Citizens
  • All Principals must be Hawaii Residents
  • Principals must be Native Hawaiian: verified by current OHA Hawaiian Registry card

REQUIRED DOCUMENTS

  • Business Plan
  • Verification of Collateral – The loan-to-value ratio must not exceed 100% [acceptable collateral includes real estate (100% assessed value), equipment (100% assessed value), receivables, inventory, purchase orders and contracts may be considered]
  • Tax Returns – 1 to 3 years of business tax returns may be required depending on the size of the loan requested
  • Financial pro forma for a period of 2 to 3 years
  • Certificate of Good Standing from DCCA
  • Verification of being an eligible applicant
  • Verification that the loan proceeds will not be used for unallowable activities
  • Other items as may be required by the bank, OHA, or the technical assistance provider

Unallowable Loan Activities

  • Investing in high-interest accounts
  • Certificates of deposit (CODs) or other investments
  • Relending of the loan amount by the borrower
  • Purchasing land or buildings
  • Constructing buildings
  • Purchasing or financing equity in private businesses

Apply

We are temporarily not accepting new applications. However, we encourage you to contact us to discuss your financing needs and, if appropriate, meet with our Technical Assistance provider, who can help prepare you for the application process once applications reopen.

To inquire about a Hua Kanu loan, please contact us at (808) 470-0867, [email protected], or contact your OHA neighbor island office.