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◄  Back to Search Results  |  January 04, 2022

Central Pacific Bank Emerges as Hawaii’s Leader in Small Business Loans

HONOLULU, HI | January 4, 2022 – Central Pacific Bank (CPB) originated more loans to small businesses in 2021 than all of the other major banks in Hawaii combined. For this reason, CPB has been named Lender of the Year (Category 2) by the U.S. Small Business Administration’s (SBA’s) Hawaii District Office. CPB originated 122 7(a) loans for a total of $7,175,100 in fiscal year 2021, more than double the number of loans it originated in 2019. 

“This recognition is a testament to the hard work and dedication of our team,” said Arnold Martines, CPB President and COO. “We are committed to supporting small businesses, especially as they continue to navigate through the pandemic.”

SBA’s Lender of the Year awards recognize institutions that have approved an significant number of SBA-backed loans in a given fiscal year. Institutions are separated into three categories based on size and ranked by their total SBA dollar volume. CPB came out on top in SBA’s mid-size division.

“Central Pacific Bank had a remarkable year, more than doubling the number of loans approved for small businesses to run and grow their companies over 2019,” said T. Mark Spain, SBA Hawaii District Director. “SBA 7(a) loans are commonly used for short- and long-term capital, refinancing business debt or purchasing equipment or supplies. It is our most popular program.”

Throughout the COVID-19 pandemic, CPB prioritized services for small businesses as they represent nearly 99 percent of all businesses in the state.  “It has been CPB’s mission, since 1954, to empower the people of Hawaii,” added Martines. “We’re extremely proud of all we’ve been able to accomplish and we look forward to serving the community for many years to come.”

 

CPB