Small Business Loans in Hawaii

Ready to find success and secure a small business loan? You're in the right place! Our in-house research team of finance experts has compiled this most comprehensive list of business loans for you to find the best option for you. Bad credit and startups acceptable when meeting specific qualifications.

10 Small Business Loans in Hawaii

This guide emerges from our dedicated research into the small business lending landscape in Hawaii, built on reliable data. We've organized these lenders by the total amount of small business loans they've issued over this year.

In essence, this list showcases the banks and lending entities that are genuinely making the most significant impact in offering loan assistance to small businesses across the state.

(Our approach distinguishes us from many other platforms, which primarily discuss non-profit entities that do not frequently lend or government programs that are not widely available to most businesses!)

Takeaway: Large, national banks do most of the small business lending in Hawaii.

Methodology: Our findings are rooted in SBA 7a loan figures, ensuring every lender we mention is an SBA loan provider. We've also included a rundown of additional small business financing they advertise on their web pages.

Traditional banking criteria often involve robust credit scores and a business track record of at least two years. Therefore, we've tailored our list to begin with two financial pathways for small business entrepreneurs facing credit challenges and those relatively new to the business world.

1. Credit Suite

Credit Suite is recognized for its expertise in business credit consulting and software offerings, along with two distinctive financing alternatives.

The Cash Flow Financing solution they offer is perfect for business owners with a few years of experience and minimal credit requirements. It enables you to leverage your company's consistent cash flow for flexible financing. Rather than being bound to regular monthly payments, you repay the loan based on a percentage of your ongoing cash flow.

The Credit Line Hybrid program offers funding solely based on the individual's credit score, sidestepping the requirement for extensive financial documents, bank details, or complex business plans. Designed with startups and established businesses in mind, it presents financial amounts from $5,000 to $150,000.  

Business financing options offered:

  • Credit Suite Cash Flow Financing
  • Credit Suite Credit Line Hybrid

2. Central Pacific Bank

Central Pacific issues more SBA 7a loans than any other lender in Hawaii. They’re also the only Hawaii-based bank on this list. 

Besides a standard lineup of small business loans, they offer niche industry loans, including for healthcare and association loans.

Business financing options offered:

  • Business Express Line of Credit

  • Business Express Term Loan

  • Small Business Administration Loans

  • Healthcare Practice Loans

  • Commercial Real Estate Financing

  • Association (AOAO) Loan Program

3. Newtek Small Business Finance

Newtek operates outside the conventional banking model, which might explain why it's not as familiar to many. However, it stands as a sizable publicly traded entity renowned for its extensive involvement in small business lending.

Although their website appears to highlight only four small business financing alternatives, Newtek offers a plethora of financial services tailored to cater to small businesses. These encompass everything from payment processing and insurance to employee benefits and payroll administration, demonstrating their commitment to supporting the diverse needs of small enterprises.

Business financing options offered:

  • Term Loans

  • Asset Based Financing

  • Inventory Based Financing

  • SBA Loans

4. Live Oak Banking Company

Live Oak is heavily involved in SBA lending across the nation, making it a significant player in the lending landscape. While their website might not provide extensive details about their other loan options, Live Oak distinguishes itself by prioritizing a deep understanding of its customers' industries.

Their website stands out by highlighting 48 distinct industries, showcasing Live Oak's commitment to tailoring financing solutions to meet the specific needs of each sector. This personalized approach underscores their dedication to serving a wide range of businesses with unique financial requirements.

Business financing options offered:

  • SBA Loans

  • USDA Loans

  • Industry Vertical Loans

5. Celtic Bank Corporation

This financial institution excels in business financing, serving numerous states and partnering with various fintech companies to offer an extensive range of business lending solutions. 

They stand out for their clear pricing structure and adaptable loan terms, making them an essential consideration for entrepreneurs in search of business funding opportunities.

Business financing options offered:

  • SBA 7(A) Loans

  • Celtic Express Loans

  • SBA 504 Loans

  • Small Business Construction Financing

  • Asset-Based Lending

  • Equipment Leasing & Financing

  • Renewable Energy and Sustainable Infrastructure

  • Commercial Construction Financing

  • Finance a Business Acquisition

  • Working Capital SBA Loans at Celtic Bank

  • Refinance Expensive Business Debt

  • USDA Rural Development Loans

  • Finance a Partner Buyout

  • Commercial Real Estate Financing

6. BayFirst National Bank

BayFirst National specializes in SBA loans as their primary focus. Their website proudly proclaims, "Rapid Business Financing!" and "In-house Experts, Swift Funding". The presence of their dedicated in-house underwriting team underscores their ability to expedite the loan process while maintaining high levels of expertise.

Given the typically prolonged funding timelines associated with SBA loans, this inherent advantage sets them apart in the industry, enabling BayFirst National to provide swift and efficient financial solutions to their clients.

Business financing options offered:

  • SBA Loans

  • Commercial Real Estate Loans

  • Commercial Term Loans

  • Commercial Lines of Credit

  • Construction Loans

  • Heavy Equipment Financing

7. Readycap Lending

Readycap primarily focuses on providing small business loans through SBA 7a loans and USDA Business and Industry loans. In addition to these government-backed options, they specialize in offering a wide range of specialized commercial real estate loans. 

For real estate investors or developers, exploring their unique product offerings could prove invaluable, as they provide access to loan types not commonly found elsewhere.

Business financing options offered:

  • SBA 7a Loans

  • USDA B&I

  • Many Niche Commercial Real Estate Loans

8. Byline Bank

Byline Bank has very interesting details about the business loans they offer on their website. First, their inhouse product Byline Express Loans is interesting and different.

They state on their website that loans under $150,000 do not require financials with IRS revenue verification - very streamlined. And for loans under $500,000, they have a fast process. If you’re looking for quick financing, this could be your first stop!

Business financing options offered:

  • Business term loans

  • Business lines of credit

  • Commercial mortgages

  • Byline Express Loans

9. Lendistry

Lendistry is a California-based small business lender, and they look it. Their website feels more like a Silicon Valley fintech company than that of a bank. One thing we like about them is that they list out the loan amounts and terms of each financing product they offer on their website. 

They also help small businesses access grant money and government state-based lending programs.

Business financing options offered:

  • Business Term Loan

  • Non-Revolving Line of Credit

  • Startup Financing

  • Small Business Loan Fund

  • Airport Concessions Lending Program

10. Dogwood State Bank

Dogwood has a normal array of small business loans, but a few different and interesting offers as well. 

Its business acquisition, expansion, partnership buyout, and franchise loans are different. You don't see those at every bank. They are clearly interested in financing entrepreneurs looking to buy an established business, in whatever capacity that looks like.

Business financing options offered:

  • SBA Loans - 7a & 504

  • Business Acquisition Loan

  • Business Expansion Loan

  • Commercial Real Estate Loan

  • Franchise Loan

  • Refinancing Loans

  • Partnership Buyout

How to apply for a small business loan in Hawaii

Getting your small business funded doesn't have to be overwhelming, regardless of how many steps may be involved. Let the leading business guides at Credit Suite help you along the way!