Ka Wai Ola - Office of Hawaiian Affairs, Volume 6, Number 1, 1 January 1989 — Staff Selected For Native Hawaiian Loan Fund [ARTICLE+ILLUSTRATION]

Staff Selected For Native Hawaiian Loan Fund

OHA's Native Hawaiian Revolving Loan Fund demonstration project (NHRLF) will be headed by Big Island real estate development and management consultant, Chester M. Cabral. He will be assisted by two business loan officers, Ken Sato and Dennis Chong. NHRLF is a $3 million, four-year, low interest loan program for Hawaiians who wish to start, expand or improve their own businesses but are unable to qualify for loans at conventionalfinancial institutions. The loan project is funded by the Administration for Native Americans. Administrative costs (such as salaries) are borne separately by the Office of Hawaiian Affairs. Technical guidance is being provided by the Bank of Hawai'i. Successful applicants will be granted loans at an extremely favorable interest rate whieh will be set at 2 percent below the treasury bill rate at the time the loan is approved. The maximum loan amount available to individual borrowers has not yet been determined. That limit, along with other policies will be established by the NHRLF Board of Directors. Cabral, who will manage the program, is a graduate of Hilo High School. He received bachelor's and master's degrees in business administration from the University of Hawai'i in Manoa. He has held positions with the Hawai'i State Department of Labor and Industrial Relations, Hawai'i Eeonomie Development Corporation and Hawai'i Pacific Co!lege. Most recently, Cabralservedasprineipal consultant and managing general partner of C.M. Cabral & Associates, a management and commercial real estate development/consulting firm. Cabral said NHRLF is the first such program available to Hawaiian businessmen and women. "It's not going to be a typical loan program where

sometimes you eome in and borrow money and never see your banker until there is a problem with your loan. We expect to include in every loan package a management/technical assistance plan, and we'll tailor that plan to the needs of the individual and his or her business." Cabral said, "By providing these loans, we are encouraging eeonomie development and self sufficiency for Hawaiians. . .one of OHA's major goals. . .as well as providing additional employment opportunities for members of the Hawaiian community." Cabral listed some of the major requirements for eligibility in the NHRLF program: • The business must be 100 percent Hawaiian owned. If it is a partnership, all partners must be

Hawaiian. If it is a corporation, all stockholders must be Hawaiian. • However, there are no blood quantum restrictions as long as the applicant is of Elawaiian ancestry. It doesn't matter whether the applicant has more or less than 50 percent Hawaiian blood. Cabral said the NHRLF program does not compete with regular lending institutions. In fact, applicants must furnish proof that a bank or other financial institution has denied them a loan. The NHRLF staff will move into its office early in January, 1989, and if all goes well, loan applications will be available in April. The office will be located in the Pan Am Building, 1600 Kapiolani Boulevard, Suite 1314. For further information, eall NHRLF at 944-6571. Ken Sato and Dennis Chong, the two NHRLF loan officers, are both former bank executives and successful businessmen. Sato graduated from McKinley High School in Honolulu and earned a bachelor of business administration degree from the University of Hawai'i. He has worked for a number of financial institutions including Bank of Hawai'i, THC Finaneial Corp. and Lineoln Financial Corp. where he served as president. Sato also founded and managed Cash Register Pacific, ine., a firm whieh markets and services electronic cash registers. Dennis Chong graduated from Maryknoll High School in Honolulu, received a bachelor's degree in business administration from the University of San Francisco and attended the Pacific Coast Banking School. He worked for Liberty Bank in Honolulu for 15 years, rising from management trainee to assistant vice president/branch manager. Chong also was co-owner and manager of the Patio Deli restaurant in Kahala Mall.

New staff of the Native Hawaiian Revolving Loan Fund are (left to right): Dennis Chong, business loan officer, Chester Cabral, manager, and Ken Sato, business loan officer.