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Untitled Document
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Business Loans
Loan Products, Required Documents & General Underwriting

Loan officerBusiness Line of Credit

  1. $10,000 to $1,000,000
  2. Variable interest rate based on Prime Rate plus a margin that is determined by internal Risk Rating guidelines.  A margin for a loan of average risk would be 1.00% to 4.00%.   Rate may vary depending on deposit account relationship and other factors.
  3. Annual review required
  4. Annual fee – 0% to 2.00% based on deposit account relationship
  5. Should be used for short term working capital.  i.e. inventory purchases and account receivable collection gap

Required Documents:

  1. Business Loan Application
  2. Personal Financial Statement for each owner/guarantor
  3. Legal organization documents (such as Articles of Incorporation, Bylaws, Articles of Organization, Partnership Agreement, etc.)
  4. Federal ID number
  5. State of Hawaii documents (General Excise License, DCCA Business Registration)
  6. 2-3 years Business Federal income tax returns
  7. 2-3 years Personal Federal income tax returns
  8. 2-3 years full financial statements
  9. Accounts receivable aging
  10. List of jobs in process (if a contractor)
  11. Copy of lease or provide verifiable lease terms

Underwriting Guidelines:

  1. Satisfactory personal credit
  2. Adequate verifiable cash flow to repay the loan
  3. Applicant/owner must be a legal resident or U.S. Citizen
  4. Assessment of credit risk based on industry, collateral value, available capital, economic conditions.

Business Term Loan

  • $10,000 to $1,000,000
  • Variable interest rate based on Prime Rate plus a margin that is determined by internal Risk Rating guidelines.  A margin for a loan of average risk would be 1.00% to 4.00%. Rate may vary depending on deposit account relationship and other factors.
  • 1 to 5 year term
  • Annual fee – 0% to 2.00% based on deposit account relationship
  • Should be used for purchased of fixed assets.  i.e. equipment, vehicles, and leasehold improvements

Required Documents:

  1. Business Loan Application
  2. 2-3 years full financial statements
  3. Personal Financial Statement for each owner/guarantor
  4. Legal organization documents (such as Articles of Incorporation, Bylaws, Articles of Organization, Partnership Agreement, etc.)
  5. Federal ID number
  6. State of Hawaii documents (General Excise License, DCCA Business Registration)
  7. 2-3 years Business Federal income tax returns
  8. 2-3 years Personal Federal income tax returns
  9. Copy of lease
  10. Description of collateral to be financed, if any

Underwriting Guidelines:

  1. Satisfactory personal credit
  2. Adequate verifiable cash flow to repay the loan
  3. Applicant/owner must be a legal resident or U.S. Citizen
  4. Assessment of credit risk based on industry, collateral value, available capital, economic conditions.

Commercial Mortgage

  • $250,000 to $2,000,000
  • Variable rate that is fixed for 3 to 5 year periods based on market rates
  • Maximum 25 year amortization.  3 to 10 year term (balloon payment)
  • 25% down payment required

Required Documents:

  1. Business Loan Application
  2. Personal Financial Statement for each owner/guarantor
  3. Legal organization documents (such as Articles of Incorporation, Bylaws, Articles of Organization, Partnership Agreement, etc.)
  4. Federal ID number
  5. State of Hawaii documents (General Excise License, DCCA Business Registration)
  6. 2-3 years Business Federal income tax returns (if applicable)
  7. 2-3 years Personal Federal income tax returns
  8. 2-3 years full financial statements
  9. Copy of existing mortgage (if refinance)
  10. DROA (Deposit Receipt Offer and Acceptance - if new purchase)
  11. Rent roll (if income property) & Rental Agreements

Underwriting Guidelines:

  1. Satisfactory personal credit
  2. Adequate verifiable cash flow to repay the loan
  3. Applicant/owner must be a legal resident or U.S. Citizen
  4. Debt Service Coverage 1.25x or better
  5. Assessment of credit risk based on industry, collateral value, available capital, economic conditions.

SBA Term Loans

  • $10,000 to $2,000,000
  • Variable interest rate based on the Prime Rate plus a margin that is capped by the SBA. 
  • 1 to 7 year term for working capital.
  • SBA will guaranty 75% to 85% of loan amount
  • SBA fees can range from 1.00% to 3.50% of guaranteed portion of loan
  • 10% (504 loans) down payment loans available for owner-user commercial properties. 

Required Documents:

  1. Business Loan Application
  2. Personal Financial Statement for each owner/guarantor
  3. Legal organization documents (such as Articles of Incorporation, Bylaws, Articles of Organization, Partnership Agreement, etc.)
  4. Federal ID number
  5. State of Hawaii documents (General Excise License, DCCA Business Registration)
  6. 2-3 years Business Federal income tax returns (if existing business)
  7. 2-3 years Personal Federal income tax returns
  8. Copy of lease or proposed lease (or at least lease terms at a minimum)
  9. Business plan (if new business), including:
    1. Description of the business & its management
    2. Description of the market & competition
    3. 3 years income & expense projections
    4. 12 months cash flow projections
  10. If business purchase: sales agreement & 3 years tax returns
  11. If franchise: copy of franchise agreement

Underwriting Guidelines:

  1. Satisfactory personal credit
  2. Adequate verifiable cash flow to repay the loan
  3. Applicant/owner must be permanent resident alien or U.S. Citizen (no E-2 visas allowed)
  4. Assessment of credit risk based on industry, collateral value, available capital, economic conditions.
  5. Approval by Bank is followed by independent review/approval by SBA

Business Overdraft Protection

  • $500 to $10,000
  • Call the branch for Overdraft Protection rates
  • No annual fee
  • Monthly payment is 5.00% of balance

Required Documents:

  1. Business Loan Application
  2. Legal organization documents (such as Articles of Incorporation, Bylaws, Articles of Organization, Partnership Agreement, etc.)
  3. Federal ID number
  4. State of Hawaii documents (General Excise License, DCCA Business Registration)
  5. 2-3 years Federal income tax returns

Underwriting Guidelines:

  1. Satisfactory personal credit
  2. Adequate verifiable cash flow to repay the loan
  3. Applicant/owner must be a legal resident or U.S. Citizen
  4. Assessment of credit risk based on industry, collateral value, available capital, economic conditions.

Other Business Loans – Special Circumstances – See a Loan Officer

  • Construction loans
  • Land loans
  • Participations for loans in excess of OPB’s lending limits

- Participate with local and mainland lenders in a variety of commercial real estate and business loans
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