NEWS RELEASE

First Hawaiian Bank Asks Small Businesses To Request That Congress Add More Funding For SBA Paycheck Protection Program

FHB is encouraging small business owners to contact their Hawaii congressional representative to request that Congress immediately replenish the fund. 

HONOLULU, April 16, 2020 – First Hawaiian Bank (FHB) today announced it was informed by the SBA Paycheck Protection Program that funding has been depleted due to tremendous nationwide demand. The Bank worked around the clock to push through as many applications as possible, receiving confirmation on $800 million in funding for its customers. 

“We recognize that there are many customer applications that were not accepted before the Federal funds ran out and we are ready to continue working around the clock in the event the Federal Government is able to add additional funding to the SBA Paycheck Protection Program,” said Bob Harrison, First Hawaiian Bank Chairman, President and CEO. “We are asking all small business customers to contact their Hawaii congressional representatives to request that the Federal Government add more funds to this program that serves as a critical lifeline for Hawaii’s small businesses.”

The U.S. Small Business Administration (SBA) announced that all of the $349 billion allocated by Congress for the SBA Paycheck Protection Program (PPP) has been used up. Congress will need to provide more funding in order for small businesses to be able to receive a PPP Loan.  All small businesses are encouraged to contact their congressional representative to request that the Federal Government immediately appropriate more funding to the SBA Paycheck Protection Program.  

Senator Mazie Hirono – (808) 522-8970 (Hawaii office) or (202) 224-6361 (Washington, D.C. office)
Address: 300 Ala Moana Blvd. Rm. 3-106, Honolulu, HI 96850
https://www.hirono.senate.gov/contact

Senator Brian Schatz – (808) 523-2061 (Hawaii office) or (202) 224-3934 (Washington, D.C. office)
Address: 300 Ala Moana Blvd., Rm 7-212, Honolulu, HI 96850
https://www.schatz.senate.gov/contact

Congressman Ed Case, 1st District - (808) 650-6688 (Honolulu office) or (202) 225-2726 (Washington, D.C. office)
Address: 1132 Bishop Street, Suite 1910, Honolulu, HI 96813
https://case.house.gov/forms/writeyourrep/

Congresswoman Tulsi Gabbard, 2nd District - (808) 541-1986 (Hawaii office) or (202) 225-4906 (Washington, D.C. office)
Address: 300 Ala Moana Blvd., 5-104 Prince Kuhio Bldg., Honolulu, HI 96850
TulsiOffice@mail.house.gov


The SBA Payment Protection Program authorized loans to small businesses to pay their employees during the COVID-19 crisis. This relief program, which is being implemented by the SBA with support from the U.S. Department of the Treasury, provides small businesses with a one-time loan up to $10 million to cover up to eight weeks of payroll expenses, including benefits, and can also be used to make mortgage interest, lease and utility payments.  The entire amount of the loan could be eligible for forgiveness if the loan proceeds are spent in accordance with SBA requirements.  SBA began accepting applications on April 3, 2020. 


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