Pacific Gateway Center Microloans

Pacific Gateway Center is a Community Development Financial Institution and an SBA Intermediary Lender.  As such, we offer the Rural Economic Development (RED) Manini Microloan Program for Small Business Solutions. Training is available in business management, computer applications, business math, ESL, technical assistance and incubation service.


Support services include:

  • Financing of up to $50,000
  • Training in business management, computer applications and business math
  • Technical assistance
  • Incubation services (services that provide individualized and personal guidance and sharing of business-needed resources with others)

Types of loans:

  • Automobile
  • Inventory
  • Agriculture
  • Services
  • Start-up or expansion
  • Working Capital
  • Equipment
  • Furniture and fixtures

Eligibility:

  • Must be 18 years old
  • Must be a Hawaii resident
  • Must be a “for-profit” business entity
  • Non-eligibility includes businesses engaged in gambling, sale of illegal goods and other legally-prohibited activities

Requirements:

  • Personal and business bank statements for the past 3 months
  • Business and Personal tax returns for the past 3 years
  • Copy of the General Excise Tax License
  • Personal Identification documents
  • Completed loan application
  • Information Release Authorization Form
  • Business Plan
  • Cash Flow Projections

Evaluation of Criteria of Applications:

  • Collateral -- 100% collateral is required. Personal guarantee and/or cosigners may be required
  • Credit -- credit history checks are required of all applicants
  • Capacity -- monthly repayment capacity is based on income analysis

Term of loan

  • Terms may vary up to a maximum of six years

Interest Rates

  • Interest rates may vary on a case-by-case basis

For more information call 851-7010