A new loan program from Hawaiian Council aims to help community members build their credit — and long-term financial stability.
Those approved for the council’s new Koa Credit Builder Loan Program will receive a $2,500 credit builder loan with “manageable” monthly payments. On-time payments are reported to major credit bureaus, “helping participants build a strong credit history,” an announcement from Hawaiian Council, formerly known as the Council for Native Hawaiian Advancement, notes
According to the program website, the loan term is up to 30 months with an 8% interest rate and 2% loan fee. With a 30-month repayment period, the monthly payment is $92.22.
“The idea for the Koa Credit Builder Loan came from conversations with local entrepreneurs and individuals who shared that they wanted to grow their businesses or strengthen their personal finances but were limited by little or damaged credit,” Kahlia Crummer, director of community development at Hawaiian Council told Aloha State Daily in an emailed response to questions. “Recognizing this gap, we created a solution that combines a safe, affordable credit‑building tool with financial education to support long‑term stability and growth.”
Interested?
To qualify, you must be a Hawai‘i resident 18 or older; show proof of income; have no late payments or a bankruptcy discharge in the last three months; and set up automatic payments.
Participants must also complete a financial empowerment course before the funds are released.
Crummer says the financial courses ensure that participants understand how credit works and how to maintain healthy financial habits beyond the loan.
“Education paired with the loan strengthens long-term financial resilience, giving individuals the tools and confidence to make informed decision.”
According to Crummer, Hawaiian Council initially dedicated $120,000 to launch the program, allowing the member-based nonprofit — which works to advance the cultural, economic and community development of Native Hawaiians — to assist roughly 50 people working to build or repair their credit.
“We are already seeing strong community interest, especially from those who have not had access to safe credit-building tools, and we expect the program to create meaningful, long-term financial impact for each participant,” Crummer continued. “Based on the early response, we are evaluating whether additional resources may be needed to meet demand and expand the program’s reach.”
Apply online at hawaiiancouncil.org/koa. For more information, call 808-596-8155. Those with questions or wishing to schedule a Financial Empowerment course should email Hawaiian Council’s Housing Counseling Department at hud@hawaiiancouncil.org.
Hawaiian Council is a Certified Native Community Development Financial Institution and a U.S Housing and Urban Development-certified Housing Counseling agency.
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Stephanie Salmons can be reached at stephanie@alohastatedaily.com.
