Hana Financial, Inc., one of the nation's leading non-bank specialty commercial lenders, today announced that its SBA lending subsidiary, Hana Small Business Lending, Inc. has completed the issuance and sale of $56.2 million of asset backed notes secured by the unguaranteed portion of a pool of loans originated pursuant to the U.S. Small Business Administration's SBA 7(a) 504 loan program.
This transaction was the largest and most successful SBA 7(a) securitization in Hana's history in terms of pricing, advance rate, and investor demand.
This transaction also represented Hana's fourth SBA 7(a) securitization since 2012. Hana's prior SBA 7(a) securitizations issued in 2012, 2014, and 2016, were $26.6 million, $46.2 million, and $46.1 million, respectively.
The offered notes received an "A-" rating from Standard and Poor's and priced at a note rate equal to LIBOR + 200 bps per annum.
Guggenheim Securities, LLC served as sole structuring agent and initial purchaser.
"Hana Financial's expertise in SBA lending and its commitment to credit quality are the reasons this securitization was so attractive to institutional investors," said Sunnie S. Kim, Co-founder, President & Chief Executive Officer of Hana Financial. "Hana continues to succeed by identifying qualified borrowers and originating high-quality SBA loans."
Hana Small Business Lending, Inc. is a leader in SBA 7(a) loan originations. Of the more than 2,000 SBA lenders in the U.S., Hana is one of the top SBA 7(a) lenders in loan volume. As one of 14 non-bank SBA lenders in the country, Hana has originated more than $1 billion in SBA loans since its inception in 2007.
Hana offers a wide range of SBA loans, including business real estate purchase, construction, refinance, business acquisition, equipment purchase, and working capital. The firm's SBA business asset loan programs provide funds from $100,000 up to $5 million to acquire property, an existing business, new business start-up, refinancing, or to consolidate and purchase fixed assets.
About Hana Financial, Inc.
Founded in 1994 by Sunnie S. Kim, Hana Financial, Inc. is a Los Angeles based, diversified financial services firm specializing in factoring, asset based lending, and SBA lending. In 2018, Hana Financial ranked as one of the top ten largest factoring companies in the U.S., and one of the most active non-bank SBA 7(a) lenders in the nation. Since its inception, Hana Financial has reached over $25 billion in factoring volume and loan originations. For more information, visit www.hanafinancial.com or call 213.240.1234.