Bank of Hope
SBA 7(a) and 504 lender, 7(a) loans up to $5M. Median rate 8.625% (last 12 months), 620 min credit, closes in weeks. Best for established restaurants and hotels.
Rates & Cost
What the financing costs, normalized so lenders can be compared.
Repayment Terms
How and how fast you pay it back, and how flexible it is.
Eligibility & Access
Who qualifies and what you have to put on the line.
Speed & Service
How fast you get funded and how the lender treats you.
Company Verification
Who actually stands behind the lender: legal entity, registration, and how long the business and its website have existed. Checked against public registries.
Best for: Established businesses, especially restaurants and hotels, wanting an SBA 7(a) or 504 loan from a large bank.
Not for: Startups without two years of operating history, borrowers with personal credit below 620, or anyone who needs money in days.
Lender List verdict: Bank of Hope is California's most active SBA 7(a) bank, with 432 approvals in the 12 months to June 30, 2026, at a median 8.625% rate. Pricing beats the SBA cap; fees are unpublished.
Bank of Hope at a glance
| Bank of Hope | |
|---|---|
| Lender type | FDIC-insured bank; SBA Preferred Lender |
| Founded / HQ | 1986 charter / Los Angeles, CA |
| SBA programs | 7(a), 504, Express, Export Working Capital |
| Amounts | $30,000 to $5M (7(a) data) |
| Cost (headline) | 8.625% median 7(a) rate |
| Status | Active |
What is Bank of Hope?
Bank of Hope is a Los Angeles bank with about $19.0 billion in assets and the largest Korean American bank in the U.S. It took its current name in 2016, when BBCN merged with Wilshire Bank.
Bank of Hope's SBA programs
Bank of Hope makes SBA 7(a) loans up to $5M and, as an SBA Preferred Lender, approves them in-house.
- 7(a): up to $5M; terms up to 10 years, or 25 with real estate
- 504: real estate and equipment projects to $15M
- Express: up to $500,000, up to 10 years
- Volume: 382 7(a) loans in FY2025, 312 in FY2026 through June 30; median loan $339,000
Bank of Hope SBA rates and fees
Bank of Hope's SBA 7(a) loans carried a median rate of 8.625% in the 12 months to June 30, 2026, about 1.875 points over the 6.75% Prime then in effect. With Prime now 7.00%, the SBA caps rates at 10.0% above $350K and 11.5% from $250,001 to $350K. Bank fees are not published.
Worked example: $350,000 over 10 years at 8.625% costs $4,362.93 a month, or $173,551.93 in interest over 120 payments. Add the SBA's 3% guaranty fee on the 75% guaranteed share ($7,875) and the total cost is $181,426.93, roughly 9.16% APR with the fee paid from proceeds.
Bank of Hope requirements
Bank of Hope requires 620+ personal credit, a personal guarantee and about two years in operation.
| Requirement | Bank of Hope minimum |
|---|---|
| Business size | For-profit, U.S.-based, within SBA size standards |
| Personal credit score | 620 |
| Time in business | About 2 years |
| Equity injection | 10% for startups and buyouts (SBA rule) |
| Guarantee | All owners of 20%+ (SBA rule) |
| Time to close | A few weeks |
Compare Lendistry (7(a) from $10,000), iBusiness Funding, or all SBA 7(a) lenders.
Frequently asked questions about Bank of Hope
Is Bank of Hope Legit? Yes. Bank of Hope is an FDIC-insured bank chartered in 1986, with about $19.0 billion in assets and a parent listed on Nasdaq for over 25 years. As an SBA Preferred Lender it approved 1,946 SBA 7(a) loans from FY2020 through June 30, 2026, with 36 charge-offs, about 1.8%.
How Big Is Bank of Hope? Bank of Hope holds about $19.0 billion in assets across 75 offices, per FDIC data, making it the fifth-largest bank based in California by its own count. It approved $486.6M of SBA 7(a) loans in the 12 months to June 30, 2026.
How Long Does Bank of Hope Take to Close an SBA Loan? Bank of Hope aims to close SBA loans within a few weeks of application, longer for complex deals. Preferred Lender status lets it approve the SBA guarantee in-house. Having tax returns, financial statements, a business plan and collateral documents ready speeds things up.
Does Bank of Hope Lend to Startups? Usually not. Bank of Hope weighs whether a business has at least two years of operating experience, plus financial statements and a business plan. Its Express loans target established businesses. Startups also need the SBA's 10% equity injection, so newer businesses may do better elsewhere.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
Best for: Established businesses, especially restaurants and hotels, wanting an SBA 7(a) or 504 loan from a large bank.
Not for: Startups without two years of operating history, borrowers with personal credit below 620, or anyone who needs money in days.
Lender List verdict: Bank of Hope is California's most active SBA 7(a) bank, with 432 approvals in the 12 months to June 30, 2026, at a median 8.625% rate. Pricing beats the SBA cap; fees are unpublished.
Bank of Hope at a glance
| Bank of Hope | |
|---|---|
| Lender type | FDIC-insured bank; SBA Preferred Lender |
| Founded / HQ | 1986 charter / Los Angeles, CA |
| SBA programs | 7(a), 504, Express, Export Working Capital |
| Amounts | $30,000 to $5M (7(a) data) |
| Cost (headline) | 8.625% median 7(a) rate |
| Status | Active |
What is Bank of Hope?
Bank of Hope is a Los Angeles bank with about $19.0 billion in assets and the largest Korean American bank in the U.S. It took its current name in 2016, when BBCN merged with Wilshire Bank.
Bank of Hope's SBA programs
Bank of Hope makes SBA 7(a) loans up to $5M and, as an SBA Preferred Lender, approves them in-house.
- 7(a): up to $5M; terms up to 10 years, or 25 with real estate
- 504: real estate and equipment projects to $15M
- Express: up to $500,000, up to 10 years
- Volume: 382 7(a) loans in FY2025, 312 in FY2026 through June 30; median loan $339,000
Bank of Hope SBA rates and fees
Bank of Hope's SBA 7(a) loans carried a median rate of 8.625% in the 12 months to June 30, 2026, about 1.875 points over the 6.75% Prime then in effect. With Prime now 7.00%, the SBA caps rates at 10.0% above $350K and 11.5% from $250,001 to $350K. Bank fees are not published.
Worked example: $350,000 over 10 years at 8.625% costs $4,362.93 a month, or $173,551.93 in interest over 120 payments. Add the SBA's 3% guaranty fee on the 75% guaranteed share ($7,875) and the total cost is $181,426.93, roughly 9.16% APR with the fee paid from proceeds.
Bank of Hope requirements
Bank of Hope requires 620+ personal credit, a personal guarantee and about two years in operation.
| Requirement | Bank of Hope minimum |
|---|---|
| Business size | For-profit, U.S.-based, within SBA size standards |
| Personal credit score | 620 |
| Time in business | About 2 years |
| Equity injection | 10% for startups and buyouts (SBA rule) |
| Guarantee | All owners of 20%+ (SBA rule) |
| Time to close | A few weeks |
Compare Lendistry (7(a) from $10,000), iBusiness Funding, or all SBA 7(a) lenders.
Frequently asked questions about Bank of Hope
Is Bank of Hope Legit? Yes. Bank of Hope is an FDIC-insured bank chartered in 1986, with about $19.0 billion in assets and a parent listed on Nasdaq for over 25 years. As an SBA Preferred Lender it approved 1,946 SBA 7(a) loans from FY2020 through June 30, 2026, with 36 charge-offs, about 1.8%.
How Big Is Bank of Hope? Bank of Hope holds about $19.0 billion in assets across 75 offices, per FDIC data, making it the fifth-largest bank based in California by its own count. It approved $486.6M of SBA 7(a) loans in the 12 months to June 30, 2026.
How Long Does Bank of Hope Take to Close an SBA Loan? Bank of Hope aims to close SBA loans within a few weeks of application, longer for complex deals. Preferred Lender status lets it approve the SBA guarantee in-house. Having tax returns, financial statements, a business plan and collateral documents ready speeds things up.
Does Bank of Hope Lend to Startups? Usually not. Bank of Hope weighs whether a business has at least two years of operating experience, plus financial statements and a business plan. Its Express loans target established businesses. Startups also need the SBA's 10% equity injection, so newer businesses may do better elsewhere.
Last verified 2026-10-27. Pricing and terms are provider-stated or third-party-reported and vary by offer; confirm with the lender before applying.
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