American Savings Bank top Hawaii SBA lender in number, volume of loans

American Savings Bank provided a total of 161 loans guaranteed by the U.S. Small Business Administration worth a total of $6.28 million to Hawaii small businesses in the fiscal year that ended Sept. 30, making it the top SBA lender in terms of volume and number of loans.

A total of 18 lenders in the district participated in SBA lending, including four credit unions and six off-island institutions. A total of $36.6 million in 7(a) loans, $20.3 million in Hedco 504 loans for capital expenditures, including equipment and real estate, and $89,000 in Hawaii Community Reinvestment loans were approved.

"SBA had quite a remarkable year in Hawaii, showing a 28 percent increase in the number of loans approved for small businesses to run and grow their companies," Jane Sawyer, the SBA Hawaii district director, said in a statement. "The agency's fee waiver on SBA loans under $150,000 proved very effective in our local market."

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