Hanmi Bank
SBA 7(a) loans up to $5M (Simple Loan to $250K), 10 or 25 yrs, median rate 8.50% (last 12 mo), preferred-lender approval. Best for buyouts and property.
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: Owners buying a business, property or equipment, or refinancing debt, who want an SBA 7(a) loan of up to $5M (Simple Loan up to $250K).
Not for: Borrowers who need money in days, can't meet SBA guarantee and equity rules, or want published rates.
Lender List verdict: Hanmi Bank approved 228 SBA 7(a) loans worth $185.1M in the 12 months to June 30, 2026, at a median rate of 8.50%. Fees and timelines are quote-only.
Hanmi Bank at a glance
| Hanmi Bank | |
|---|---|
| Lender type | FDIC-insured bank (cert 24170); SBA Preferred Lender |
| Founded / HQ | 1982 / Los Angeles, CA |
| Products | SBA 7(a), SBA Simple Loan, SBA 504 |
| Amounts | Up to $5M (7(a)); up to $250K (Simple Loan) |
| Cost (headline) | Median 8.50% on 7(a) loans, last 12 months |
| Status | Active |
What is Hanmi Bank?
Founded in 1982, Los Angeles-based Hanmi Bank describes itself as the first Korean American bank in the U.S. It held about $8.0 billion in assets as of June 30, 2026. Its SBA loans since FY2020 reached 29 states.
Hanmi Bank's SBA programs
A Hanmi Bank SBA loan runs up to $5M over 10 or 25 years at variable rates. It approved 214 7(a) loans ($181.2M) in FY2025 and 159 ($125.2M) in FY2026 through June 30; median loan $588,000 (SBA 7(a) FOIA data, as of June 30, 2026).
- 7(a): property purchase or refinance (25 years); acquisitions, equipment and debt refinance (10 years)
- SBA Simple Loan: working capital up to $250K, 10 years, online application
- SBA 504: fixed-rate loans for real estate and large equipment
Hanmi Bank rates and fees: what it really costs
Hanmi Bank's 7(a) loans carried a median initial rate of 8.50% in the 12 months to June 30, 2026, roughly Prime + 1.50% to 1.75%. The SBA caps loans over $350K at Prime + 3% (10.0% today). Lender fees are unpublished; the Simple Loan has a limited-time Prime + 1% offer.
Worked example: $350,000 over 10 years at 8.50% costs $4,339.50 a month: $520,739.89 over 120 payments, $170,739.89 of it interest. Add the SBA guaranty fee ($350,000 × 75% × 3% = $7,875) and the total cost is $178,614.89, about 9.03% APR with the fee paid at closing.
Hanmi Bank requirements
Hanmi Bank follows standard SBA rules.
| Requirement | Hanmi Bank minimum |
|---|---|
| SBA size standard | Small for your NAICS code |
| Equity injection | 10% for startups and full buyouts |
| Personal guarantee | Every owner of 20% or more |
| Credit score / revenue | Lender does not publish |
| Time to close | Lender does not publish |
Alternatives: Los Angeles-based Lendistry, national SBA platform iBusiness Funding, or browse SBA 7(a) and SBA 504 loans.
Frequently asked questions about Hanmi Bank
Is Hanmi Bank Legit? Yes. Hanmi Bank is an FDIC-insured bank (certificate 24170) operating since 1982. As an SBA preferred lender, it has approved 1,276 SBA 7(a) loans since FY2020. FDIC lists it as active, and SBA data shows its latest approval on June 29, 2026.
How Long Does Hanmi Bank Take to Close an SBA Loan? Hanmi Bank does not publish a closing timeline. Standard SBA 7(a) loans often take 60 to 90 days. As a preferred lender, Hanmi approves loans in-house, skipping 5 to 10 business days of SBA review. Simple Loan applicants hear back within 48 hours.
Does Hanmi Bank Lend to Startups? Hanmi Bank does not say. SBA rules allow 7(a) loans to new businesses when owners inject at least 10% of the project cost and every 20% owner personally guarantees the loan. Its Simple Loan (up to $250K) takes about 30 minutes to apply for online.
Where Is Hanmi Bank Headquartered? Hanmi Bank is headquartered in Los Angeles, California, with its SBA office at 3660 Wilshire Blvd. It runs 32 branches in nine states plus SBA loan offices in New York, Colorado, Washington, Virginia, Georgia and Texas.
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: Owners buying a business, property or equipment, or refinancing debt, who want an SBA 7(a) loan of up to $5M (Simple Loan up to $250K).
Not for: Borrowers who need money in days, can't meet SBA guarantee and equity rules, or want published rates.
Lender List verdict: Hanmi Bank approved 228 SBA 7(a) loans worth $185.1M in the 12 months to June 30, 2026, at a median rate of 8.50%. Fees and timelines are quote-only.
Hanmi Bank at a glance
| Hanmi Bank | |
|---|---|
| Lender type | FDIC-insured bank (cert 24170); SBA Preferred Lender |
| Founded / HQ | 1982 / Los Angeles, CA |
| Products | SBA 7(a), SBA Simple Loan, SBA 504 |
| Amounts | Up to $5M (7(a)); up to $250K (Simple Loan) |
| Cost (headline) | Median 8.50% on 7(a) loans, last 12 months |
| Status | Active |
What is Hanmi Bank?
Founded in 1982, Los Angeles-based Hanmi Bank describes itself as the first Korean American bank in the U.S. It held about $8.0 billion in assets as of June 30, 2026. Its SBA loans since FY2020 reached 29 states.
Hanmi Bank's SBA programs
A Hanmi Bank SBA loan runs up to $5M over 10 or 25 years at variable rates. It approved 214 7(a) loans ($181.2M) in FY2025 and 159 ($125.2M) in FY2026 through June 30; median loan $588,000 (SBA 7(a) FOIA data, as of June 30, 2026).
- 7(a): property purchase or refinance (25 years); acquisitions, equipment and debt refinance (10 years)
- SBA Simple Loan: working capital up to $250K, 10 years, online application
- SBA 504: fixed-rate loans for real estate and large equipment
Hanmi Bank rates and fees: what it really costs
Hanmi Bank's 7(a) loans carried a median initial rate of 8.50% in the 12 months to June 30, 2026, roughly Prime + 1.50% to 1.75%. The SBA caps loans over $350K at Prime + 3% (10.0% today). Lender fees are unpublished; the Simple Loan has a limited-time Prime + 1% offer.
Worked example: $350,000 over 10 years at 8.50% costs $4,339.50 a month: $520,739.89 over 120 payments, $170,739.89 of it interest. Add the SBA guaranty fee ($350,000 × 75% × 3% = $7,875) and the total cost is $178,614.89, about 9.03% APR with the fee paid at closing.
Hanmi Bank requirements
Hanmi Bank follows standard SBA rules.
| Requirement | Hanmi Bank minimum |
|---|---|
| SBA size standard | Small for your NAICS code |
| Equity injection | 10% for startups and full buyouts |
| Personal guarantee | Every owner of 20% or more |
| Credit score / revenue | Lender does not publish |
| Time to close | Lender does not publish |
Alternatives: Los Angeles-based Lendistry, national SBA platform iBusiness Funding, or browse SBA 7(a) and SBA 504 loans.
Frequently asked questions about Hanmi Bank
Is Hanmi Bank Legit? Yes. Hanmi Bank is an FDIC-insured bank (certificate 24170) operating since 1982. As an SBA preferred lender, it has approved 1,276 SBA 7(a) loans since FY2020. FDIC lists it as active, and SBA data shows its latest approval on June 29, 2026.
How Long Does Hanmi Bank Take to Close an SBA Loan? Hanmi Bank does not publish a closing timeline. Standard SBA 7(a) loans often take 60 to 90 days. As a preferred lender, Hanmi approves loans in-house, skipping 5 to 10 business days of SBA review. Simple Loan applicants hear back within 48 hours.
Does Hanmi Bank Lend to Startups? Hanmi Bank does not say. SBA rules allow 7(a) loans to new businesses when owners inject at least 10% of the project cost and every 20% owner personally guarantees the loan. Its Simple Loan (up to $250K) takes about 30 minutes to apply for online.
Where Is Hanmi Bank Headquartered? Hanmi Bank is headquartered in Los Angeles, California, with its SBA office at 3660 Wilshire Blvd. It runs 32 branches in nine states plus SBA loan offices in New York, Colorado, Washington, Virginia, Georgia and Texas.
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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