The OHA Consumer Micro-Loan Program (CMLP) is intended to provide low-cost loans to Native Hawaiians who are experiencing temporary financial hardship due to unforeseen events, or who wish to enhance their careers.
Some uses of the loan
- Death in the Family/Funeral Expense
- Emergency Health Situation
- Unexpected Home or Auto Repairs
- CDL License
- Apprenticeship Programs
- Career Development Courses
- Debt Consolidation or Refinancing
- Re-Lending by Borrower
- Home Remodeling
- Past due utilities or rent
- Down payment loans
- Auto purchase
$500 to $7,500
Rates & Terms
- Simple interest, fixed at 5%
- Up to five years
- Collateral not required
- No gross annual income limit
- Co-applicant or guarantor can strengthen the loan
- Applicant must be of Native Hawaiian ancestry, at least 18 years of age and a resident of the State of Hawaii
- Applicant should have a satisfactory credit history with a minimum credit score of 600 and the ability to repay the loan
- Two years of employment history is preferred
- Income to debt ratio of no more than 50%
- Loan must be for applicant’s benefit
- Loans are available to individuals only. Partnerships, corporations, sole proprietorships, etc., are excluded
- Identification: Government issued ID (State drivers’ license or state identification)
- Proof of Hawaiian ancestry: verified by current OHA Hawaiian Registry card
- Proof of Income: For all W-2 employees, one month of pay stubs, if you worked with the company for at least two years. If not, please include previous year’s W-2s. For self-employed, two years of federal tax return, including all schedules.
- Verification of the use of funds: Estimate or Invoice
- Statement of request: Letter as to why you are applying for a loan (Only required if submitting a paper application)
Applying for a loan is as easy as 1, 2, 3:
- Create a secure user account.
- Gather your documents.
- Complete the online application.
The process typically takes 20-25 minutes. Once you complete the application, a lending associate will contact you within two business days. Once an application has been approved, documents can be signed and funds disbursed usually within five to eight business days.
Prior to signing the application and submitting, you will have the option to upload the required documents. Please be aware that all documents must be submitted in order for the Loan Officer to process the application.