HONOLULU (KHON2) — Small businesses are a critical part of our community here in the islands, and a big part of that is making finances work.
“We see small businesses as the heart of Hawaii’s economy because they are,” said Gina Loose, the vice president senior business banking officer at Central Pacific Bank. “They make up over 99% of all businesses in the state, employ half of the workforce, and create jobs and innovation. They’re not just economic drivers, they’re the backbone of our communities. They are our neighbors, our friends and they represent the entrepreneurial spirit of our islands, which is why we put such a focus on supporting them.”
Small Business Association loans are something that businesses use to get funding.
“SBA loans are a fantastic tool because they’re government-backed, which makes it easier for entrepreneurs to get the financing they need,” Loose said.
Hawaii is developing a strong contingent of women-owned small businesses, highlighted by events like the Made in Hawaii Festival. Loose says that Central Pacific Bank has committed to helping cultivate that by launching the WE by Rising Tide program.
“We believe that empowering women entrepreneurs is key to strengthening Hawaii’s economy. The WE by Rising Tide program is a no-cost business accelerator designed for women-owned businesses in Hawaii. It covers topics like financial management, marketing, and leadership skills. It’s also about building a powerful network,” Loose said. “By connecting these entrepreneurs with established leaders and peers, we’re helping create a supportive environment where they can learn from each other. We are proud to have our fifth cohort of remarkable women going through the program now.”
For more information on Central Pacific Bank’s programs, visit their website.