Skip to main content

Market Overview

Hana Financial to Sell its SBA Portfolio to OP Bancorp

Share:

Hana Small Business Lending, Inc. ("HSBL"), a wholly-owned subsidiary of Hana Financial, Inc. ("Hana Financial"), and OP Bancorp (NASDAQ:OPBK), parent company of Open Bank, announce the signing of an asset purchase agreement pursuant to which OP Bancorp will acquire HSBL's SBA portfolio.

HSBL is a fully integrated national SBA origination and servicing platform. Its team has originated nearly $1 billion of SBA loans since its inception and has consistently produced strong results. The transaction includes the sale of approximately $105 million of SBA 7(a) loans as well as servicing rights relating to a pool of $295 million in loans. The transaction is subject to the satisfactory completion of certain due diligence requirements, purchase price adjustments at closing, and governmental and regulatory approvals.

"The sale of the SBA portfolio is a part of Hana Financial's strategic plan to focus on and grow its factoring and asset based lending businesses," said Sunnie S. Kim, President and Chief Executive Officer of Hana Financial.

About Hana Financial, Inc.

Founded in 1994 by Sunnie S. Kim, Hana Financial, Inc. is a Los Angeles based non-bank financial services firm specializing in factoring, asset based lending and SBA lending. Since its inception, Hana Financial has generated over $26 billion in factoring and loan originations. For more information, please visit www.hanafinancial.com or call 213.240.1234.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com