News & Stories

May 2026

Hanmi Bank Relaunches Flex Loan, a Small Business Lending Program Designed to Support Growth

Hanmi Bank has relaunched Flex Loan, a small business lending product designed for small businesses, and started a Prime Rate Only promotion.

Flex Loan is a renewed version of the bank’s existing small-dollar lending product, Micro Loan, and is designed to provide financing of up to $20,000 with significantly streamlined documentation requirements and fast credit decisioning.

Anthony Kim, Executive Vice President of Hanmi Bank, said, “Flex Loan is a financial product created to support small businesses striving for success. Hanmi Bank plans to continue offering products and services that contribute to the growth of the community.”

In line with the purpose of the product launch, the qualification requirements for loan applications are also relatively straightforward.

Eligible businesses must have been in operation for at least two years, generate annual revenue of $1 million or less, and have no recent record of serious delinquency such as bankruptcy or foreclosure. In addition, the applicant or guarantor must have a FICO score of 680 or higher.

For Flex Loan, loans ranging from $1,000 to $5,000 carry a 3-year term and a $100 loan fee, while loans from $5,001 to $20,000 carry a 5-year repayment term and a $200 loan fee. Loan payments must be made through automatic debit from a Hanmi checking account.

To help ease the financial burden on small businesses, Hanmi Bank has also launched a special promotion for Flex Loans approved from the 18^th of this month through August 31, under which only the WSJ Prime Rate will apply. As of now, the promotional rate is 6.75%, though it may fluctuate along with changes in the benchmark rate. After the promotion ends, the interest rate will revert to the Prime Rate plus 2.5%. Applications may be submitted through any Hanmi Bank branch, and final approval will be determined after the loan review process. For detailed eligibility requirements and application inquiries, customers may contact their nearest Hanmi Bank branch.h.