Hana Financial Completes $26.6 Million Loan Securitization
Hana Financial, Inc. announced that it has completed the securitization and sale of $26.6 million non-guaranteed portions of U.S. Small Business Administration (SBA) small business loans. In April, Standard and Poor’s gave Hana’s trust notes an A rating. The sale of the trust notes was handled by Guggenheim Securities, which advised Hana.
“The completion of this transaction is a momentous occasion for Hana Financial, Inc.,” said Sunnie Kim, Hana’s president and chief executive officer. “We were able to complete this securitization because of our sterling reputation, a seasoned staff led by James Kim, and a lending strategy that has proven to be highly successful.”
Hana Financial’s subsidiary, Hana Small Business Lending, Inc. was founded in 2007 and has been active in making U.S. SBA 7(a) loans for the past five years. Because Hana Financial is a fully diversified financial institution, the company is able to offer its clients customized solutions that extend beyond what typical banks can offer. As a result, Hana’s SBA loan-servicing portfolio continues to grow. Last year, the company closed $92 million of small business loans and finished 2011 as the 22nd largest national lender in SBA loan volume. This year, the company is projecting to complete $125 million in SBA loans.