LOS ANGELES–(BUSINESS WIRE)–Hana Financial, Inc., one of the largest non-bank specialty commercial lenders in the nation, announced today that its SBA Lending unit, Hana Small Business Lending, Inc. (HSBL), has successfully renewed its credit facility from East West Bank.
The renewed credit facility is a $65 million revolving warehouse line of credit for both the guaranteed and the unguaranteed portions of SBA loans, and will have increased loan eligibility from 24 months to 36 months from the origination.
In addition to the warehouse line, HSBL has successfully demonstrated its ability to access financing through the securitization market to finance the unguaranteed portions of SBA loans retained on its balance sheet. HSBL has issued over $160 million worth of asset backed securities (ABS) in three separate offerings in 2012 (S&P rating “A”), 2014 (S&P rating “A”; upgraded to “AA+” in 2017), and 2016 (S&P rating “A-“).
Hana Financial, Inc. acquired the former SBLC license of Lehman Brothers in 2007, and its SBA Lending unit became an approved delegate in the SBA’s Preferred Lenders Program (PLP) in 2008. In 2016, HSBL ranked as the second most active non-bank SBA 7(a) lender in the nation, and a top 30 lender among over 2,100 SBA 7(a) lenders. HSBL is a national lender with offices in California, New York, Virginia and Washington.
President and CEO
Hana Financial, Inc.