OHA trustees hear update on Native Hawaiian revolving loan fund, staffing and budget request

The Office of Hawaiian Affairs on May 20 heard a presentation on the Native Hawaiian Revolving Loan Fund, known as NARF, covering the program's history, recent lending activity, staffing gaps and a proposed $2.4 million budget for the program.

NARF, established in 1989 through a partnership with the Administration for Native Americans (ANA) and the Office of Hawaiian Affairs (OHA), began with roughly $22.8 million in seed funds (about $12.9 million from ANA and $9.9 million from OHA). Presenters told trustees that, as of April 2025, the program has closed about $77.8 million in loans since inception and currently has roughly 500 active loans outstanding, most with seven-year terms. The program reported sizable year-over-year growth in loan counts: 21 loans in fiscal 2021, 57 in fiscal 2022, 69 in fiscal 2023 and 125 in fiscal 2024; fiscal 2025 year-to-date was reported as 81 loans.

Robert Carbo, introduced at the meeting as a loan processor for NARF, and other program staff described the fund's consumer and business products, including a consumer microloan line, a Malama loan for startups and expansions, a larger Hual business loan for firms with about three years of growth, and a Mahi'ai agricultural loan. Staff…