The Hawaiian government has put in place many schemes and programs for those who wish to get a business loan in Hawaii. From state funding to grants and private aid, there is no dearth of sources from which you can get a business loan.
This article discusses some of the ways to get a business loan in Hawaii.
Source of Loans in Hawaii:
From banks to grants and credit insurance, you will find many sources of business loans in Hawaii. Some of them are discussed below.
1) Small Business Loan Providers There are significant number of small business loan providers and banks available in Hawaii.
2) Guarantees Guarantees reduce payment risks and encourage private lenders to offer loans to entrepreneurs.
3) Export Import Bank The Export Import Bank has been set up by the US Government to finance businesses. It offers loans to entrepreneurs when the risk may be too high for private lenders.
4) Small Business Administration The Small Business Administration (SBA) of US was created with the aim of providing guidance and financial aid to small businesses. In Hawaii, the SBA office is located in the Prince Jonah Kuhio Kalanianaole Building on Moana Boulevard in Honolulu.
5) OHA Business Loans Native Hawaiian small business owners can approach the OHA for either the Native Hawaiian Revolving Loan Fund or the Export Import Bank funds. The former aims to encourage the growth of businesses owned by native Hawaiians.
6) Overseas Immigrants Investing Programs This program allows non-US citizens to get a Green Card by investing in any American company. This helps small businesses in even remote areas to get financial support.
7) Hawaiian Strategic Development Corporation (HSDC) The HSDC is working towards the development of venture capital businesses in Hawaii. The organization puts technological innovations to commercial use, and is concerned with providing employment opportunities to Hawaiians.
8) Small Business Grants The Small Business Innovations Research program rewards useful innovations of small businesses by providing those grants. The innovations can be in fields as diverse as energy, defense, education, commerce, health and science.
9) Export Credit Insurance Organizations like Export Import Bank offer credit insurance to entrepreneurs, and this includes small business insurance policy.
The Hawaiian government is trying to encourage entrepreneurship and establish a venture capital industry in the area. If you are a small business owner, or want to set up a small business in Hawaii, then there is no time like the present. Finance and loan options are many, and interest rates are low.
If you want to know more about business loans available in Hawaii, you may seek help from a small business consultant.
Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.
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