Bank of Hawaii Captures Top Small Business Lender Award
By Sonia Isotov
The Hawaii District Office of the US Small Business Administration (SBA) announced the lending statistics for fiscal year 2011 for Hawaii at the Annual Lenders Breakfast last week on Oahu.
For the fiscal year 2011, Bank of Hawaii captured the “Lender of the Year” honor for financial institutions with assets in excess of $9 billion. The bank led all lenders in the district, making 80 guaranteed loans for $8.98 million this year.
The “Lender of the Year” Award for mid-size lenders went to American Savings Bank with 36 approvals for $3.69 million, edging out the nearest competitor.
Hawaii National Bank captured the top award in small bank category with 13 loans for $3.6 million.
In the 12 month period ending September 30, 2011, SBA provided $73.6 million in financing, eclipsing the previous high dollar mark set in 2004 of $63.6 million. Through the 7(a) and 504 financing programs, 343 small businesses received approvals for loans for real estate purchase, renovation, equipment, expansion, inventory, working capital and other eligible business purposes.
“My thanks go out to all our participating lenders for their renewed commitment to small businesses. The record loan volume is a great sign” said District Director Jane Sawyer, in a written statement. “Given the uncertain economic condition and increased focus on credit, I applaud our lenders for working diligently with borrowers to deliver the financing needed to keep their businesses viable and moving forward. Each loan makes a big difference to our economic and employment outlook.”
The Hawaii office also presents “Holomua Awards” to recognize significant contributions to the increased access to capital and financial assistance to the small business community. Organizations presented with these special honors included:
- The Hawaii Chapter of SCORE for their expanded training and outreach to Veteran owned small businesses;
- Ohana Pacific Bank for their steady increase in SBA loans in 2011;
- David Butts of the Honolulu Star Advertiser for the “Akamai Money” column to provide coverage of small business and financial topics;
- Central Pacific Bank for the fast response and pace of SBA lending;
- Hawaii SBDC Network for their work with financial institutions to support borrowers in developing and revising financing plans and strategies.