Applications open for the City’s first-ever small business loan program through the Office of Economic Revitalization

HONOLULU – The City and County of Honolulu’s Office of Economic Revitalization (OER) and Feed the Hunger Fund (FTHF), a Community Development Financial Institution (CDFI), have opened applications for the Oʻahu Small Business Loan Fund (OSBLF) — a new micro-loan program designed to provide flexible financing to early-stage entrepreneurs on Oʻahu who face barriers to accessing traditional bank loans.

The OSBLF offers loans from $5,000 to $50,000 with character-based underwriting, no minimum credit score requirement, and below-market interest rates of 6–8%. Using a Loan Loss Reserve Fund (LLRF) model, the program leverages a City investment to unlock up to $200,000 in lending capital for entrepreneurs who are ready to grow but haven’t been able to access conventional financing.

“This program has the potential to be transformational for local entrepreneurs, providing them with the money they need to launch their vision and bring their dreams to life,” said Mayor Rick Blangiardi. “The Office of Economic Revitalization is designed to create real and meaningful opportunities for our community businesses and helping to push our economy forward.”

“Small businesses are the backbone of our local economy,” said Councilmember Augie Tulba. “As someone who started with big dreams and limited resources, I know how one opportunity can make all the difference. When we invest in local entrepreneurs, we invest in stronger families, stronger communities, and Hawaiʻi’s future.”

For many early-stage entrepreneurs on Oʻahu, the biggest obstacle to growth isn’t a lack of drive or a weak business idea — it’s access to capital. Traditional lenders typically require years of established credit histories, collateral, and proven revenue. That leaves out a significant portion of Oʻahu’s small business community, including first-time borrowers, artisans, gig workers transitioning into formal businesses, and entrepreneurs from communities that have historically had less access to financial institutions.

The OSBLF was built for those entrepreneurs. Beyond the immediate loan, participants also build a documented credit history — an important step toward qualifying for traditional bank financing in the future.

“We know from our business outreach through the O’ahu Business Connector and research with UHERO that access to capital is the biggest obstacle facing small businesses on Oʻahu,” says Amy Asselbaye, Executive Director of OER. “The OSBLF is the City’s response to fill that gap. It’s a practical pathway — designed for entrepreneurs who are ready to grow but can’t get a foot in the door with traditional lenders. We’re proud to start this public-private partnership with Feed the Hunger, who can provide the funding and wrap-around services needed in this community.”

The Oʻahu Small Business Loan Fund is designed to work hand in hand with Oʻahu’s existing network of small-business support organizations. Oahu Business Connector partner organizations — including technical assistance providers, nonprofit cohort programs, and community-based networks — serve as trusted referral sources, connecting entrepreneurs who may be a strong fit directly to Feed the Hunger Fund for a conversation.

“FTHF is thrilled to partner with the City and County of Honolulu, the Mayor’s office, and OER on the O’ahu Small Business Loan Fund. This new loan fund will allow FTHF to leverage more lending capital to O’ahu businesses, and we’re excited about showcasing how this loan fund will bring more economic opportunities to the businesses we support and economic empowerment for the residents of O’ahu,” says Vivian Pham, Board Chair at Feed the Hunger Fund. “This new partnership with the city shows their commitment to economic development and small business support by championing early-stage entrepreneurs with wrap-around support, technical assistance, and additional access to capital, key actions to ensure small businesses thrive.”

Who Should Apply:
The OSBLF is open to early-stage and early-revenue entrepreneurs across Oʻahu who are unable to qualify for traditional bank financing. The program is particularly suited for:
• Entrepreneurs with no credit history or thin credit files
• Artisans, gig workers, and informal economy businesses in the process of formalizing
• Entrepreneurs who have completed a technical assistance program and are ready — or nearly ready — to borrow

How to Apply:
Entrepreneurs interested in applying for the OSBLF can learn more and connect with the program team through the contacts below. OER and Feed the Hunger Fund are available for partner briefings at your convenience.
• Natalie Aczon, Business Development Specialist, Feed the Hunger Fund | natalieaczon@feed-hunger.com
• Constancio Paranal, Grants and Innovation Director, OER | c.paranal@honolulu.gov
• George Yarbrough, IEDC Economic Recovery Corps Fellow, OER | gyarbrough@economicrecoverycorps.org | george.yarbrough@honolulu.gov

Learn more and apply at: https://oahubusinessconnector.org/osblf/
For inquiries and questions, contact oer@honolulu.gov

OER Website: www.revitalizeoahu.org
Instagram: @oer.honolulu
Facebook: facebook.com/oer.honolulu