Bank of Hawaii Named 1999 SBA Lender of the Year

In an ward ceremony held at the winner’s Hagatna Branch Wednesday, the US Small Business Administration named Bank of Hawaii its Lender of the Year for 1999. The award is given annually to SBA’s participating bank which makes the highest number of SBA-guaranteed loans to small borrowers in a given fiscal year.

Bank of Hawaii was awarded 1999 Lender of the Year honors for having attained a total 32 SBA loans for the fiscal year that ended on Sept. 30, 1999. Under the Lender of the Year point system, each SBA loan is worth one point, except loans to women-owned or veteran-owned businesses, which are worth one and one-half points.

In addition to generating the highest number of loans, Bank of Hawaii also secured approval for the highest number of SBA loans (18) to women-owned businesses. Under the point system, therefore, the bank won the competition by a total of 32 loans for 41.5