Ka Wai Ola - Office of Hawaiian Affairs, Volume 34, Number 5, 1 May 2017 — Mālama Loans help two generations of entrepreneurs [ARTICLE]

Mālama Loans help two generations of entrepreneurs

A $20,000 Mālama Loan from the Office of Hawaiian Affairs allowed Ola and Puna Tripp to purchase a commereial refrigerator and other appliances they needed to open a Liquid Life heahh bar in Kea'au, as well as pay for all the necessary permitting. They were encouraged to apply for an OHA loan by 01a's parents, who also used OHA financing to build their businesses inVolcano: Kīlauea General Store, Lava Rock Cafe, and Kīlauea Creations, a quilt store. "That's the route they took and it worked for them," said Ola. Fixed interest rates ranging from 4 percent to 6.25 percent and up to a 7 year loan term make OHA's loan programs an attractive option for Native Hawaiian entrepreneurs. More than 2,000 Native Hawaiian families and business owners have used OHA's low-interest loans to build businesses, repair homes, cover educational expenses and consolidate debt. To learn more about OHA's loan programs, visit www.oha. org/loans. ■