CENTRAL PACIFIC BANK
PPP Lender · 11,833 loans · $870.2M total · 35 states served
CENTRAL PACIFIC BANK was one of the thousands of SBA-approved lenders that participated in the Paycheck Protection Program. During the program period (April 2020 – May 2021), the lender originated 11,833 PPP loans totaling $870.2M, representing approximately 0.10% of all loans nationwide.
CENTRAL PACIFIC BANK served borrowers across 35 states. The largest concentration of activity was in Hawaii, where the lender originated 11,450 loans totaling $812.7M. Other states with significant activity included California, New York, Florida.
The average loan size for this lender was $73,538. This figure reflects the mix of borrower types — large companies, small businesses, sole proprietors, and non-profits — that applied through this institution. Lenders were responsible for collecting and verifying borrower certifications and submitting loan applications to the SBA's E-Tran system.
Among the largest named borrowers that received loans through CENTRAL PACIFIC BANK were: NAVATEK LLC (HI) — $10,000,000; HIRED, INC. (CA) — $5,249,000; WAHIAWA GENERAL HOSPITAL (HI) — $4,363,400; and CHILD AND FAMILY SERVICE (HI) — $3,656,300.
PPP lenders were compensated through processing fees paid by the SBA rather than by borrowers. Fees ranged from 1% to 5% of the loan amount depending on loan size. Lenders were not required to take credit risk — the SBA provided a 100% guaranty on each loan. This structure incentivized broad participation but also contributed to documented cases of lender fraud and over-processing of applications.
Borrower names for loans under $150,000 are withheld under FOIA Exemption 6. As a result, the named recipients shown below represent only a fraction of this lender's total portfolio. The full loan count and amount figures include all loans in the SBA's data regardless of disclosure status.
Activity by State
| State | Loans | Total Approved | Forgiveness Rate |
|---|---|---|---|
| Hawaii | 11,450 | $812.7M | 96.8% |
| California | 179 | $43.2M | 97.8% |
| New York | 23 | $1.2M | 91.3% |
| Florida | 22 | $662,709 | 100.0% |
| Nevada | 21 | $1.1M | 100.0% |
| Texas | 19 | $1.8M | 89.5% |
| Georgia | 14 | $1.2M | 85.7% |
| Washington | 13 | $844,390 | 92.3% |
| Utah | 10 | $1.8M | 100.0% |
| Colorado | 9 | $290,800 | 88.9% |
| Arizona | 8 | $273,533 | 87.5% |
| Massachusetts | 7 | $662,178 | 100.0% |
| North Carolina | 6 | $203,402 | 100.0% |
| Michigan | 5 | $349,986 | 100.0% |
| Virginia | 4 | $20,076 | 100.0% |
| Pennsylvania | 4 | $63,775 | 100.0% |
| Oregon | 4 | $488,472 | 100.0% |
| New Jersey | 4 | $222,423 | 100.0% |
| Louisiana | 4 | $516,400 | 75.0% |
| District of Columbia | 4 | $1.0M | 100.0% |
| Tennessee | 3 | $233,568 | 100.0% |
| Illinois | 3 | $43,053 | 100.0% |
| Missouri | 2 | $458,300 | 100.0% |
| Maryland | 2 | $20,067 | 100.0% |
| Delaware | 2 | $17,742 | 100.0% |
| American Samoa | 2 | $424,500 | 100.0% |
| Wyoming | 1 | $11,900 | 100.0% |
| Wisconsin | 1 | $77,300 | 100.0% |
| South Dakota | 1 | $15,000 | 0.0% |
| South Carolina | 1 | $6,500 | 100.0% |
| Rhode Island | 1 | $62,500 | 100.0% |
| Montana | 1 | $2,800 | 100.0% |
| Minnesota | 1 | $14,300 | 100.0% |
| Indiana | 1 | $6,438 | 100.0% |
| Connecticut | 1 | $314,700 | 100.0% |