Guide to Commercial Mortgage Lenders in Hawaii

Find the right commercial lenders in Hawaii for your business
By Maria St. Louis-Sanchez

Hawaii commercial lenders help businesses acquire the capital they need to start a new business or expand an existing one. When it comes to a commercial mortgage, Hawaii has several vendors from which to choose. However, business owners should research Hawaii commercial mortgages and learn the facts to make sure to get the right loan.

Business owners should keep in mind when shopping for commercial financing in Hawaii, the process differs greatly than that of a residential loan. There are some main differences between a Hawaii commercial mortgage and a residential one:

1. Collateral for a Hawaii commercial mortgage typically exceeds the amount required for residential loans.

2. The loan interest rate on a Hawaii commercial loan is usually higher than a residential mortgage rate.

3. The terms for commercial financing in Hawaii are shorter, with a balloon payment typically due at the end.

Action Steps

The best contacts and resources to help you get it done

Look online to compare commercial lenders in Hawaii By using search engines to compare and contrast Hawaii commercial loans, business owners can get an idea of the different types and rates of loans available.

I recommend: Sites like iBank or Mortgage Loan will help give you an idea about what rates are currently available. Use these rates as a reference when you research a Hawaii commercial mortgage lender.

Investigate local and national banks for commercial loans in Hawaii There are several Hawaii commercial mortgage firms from which to choose. While the larger, national banks may have more branches, local lenders may offer more personalized service. Weigh your options while you decide which Hawaii commercial loan is right for you.

I recommend: National commercial banks like AllOptions and Green Door Funding have several different types of options for Hawaii commercial lending. Local banks like Hawaii National Bank or American Savings Bank will have in-depth information regarding the business outlook in Hawaii.

Use business associations to find Hawaii commercial mortgage providers Small business organizations in Hawaii will have extensive inside knowledge about Hawaii commercial loans. These associations are designed to help accomplished and aspiring entrepreneurs. Often times, these organizations provide free seminars to assist business owners secure the best commercial loans.

I recommend: The Small Business Administration (SBA) has several classes for aspiring business owners including business counseling and loan programs. Local chapters of SCORE in Hawaii offer several classes for business planning and Hawaii commercial lending.

Tips & Tactics

Helpful advice for making the most of this Guide

Some commercial property sellers offer discounts if you work with certain Hawaii commercial lenders. Make sure to inquire about them if you are looking for a property.
Before purchasing a property make sure to check the fine print on your commercial loan and ask commercial mortgage lenders in Hawaii about restrictions to property use. If the loan is too restrictive, it may pose problems for your business.