Entrepreneurs Get From The Bank, Into Business - Hawaii News Now - KGMB and KHNL

Entrepreneurs Get From The Bank, Into Business

By Mary Simms

HONOLULU (KHNL) - Lubuw Falanruw grew up on Yap,  a small island in Micronesia, population about 6-000. He saw a computer for the first time at 19.

"The way of life there is fishing and working in a taro patch. So its very very far from getting into computers."

Ten years later, he owns an e-business empire, developing software applications that are logical, and have an edgy visual appeal. The sba helped him get there.

"Knowledge is power and a lot of times theres great programs out there but at least in my case, probably was that usually when you're starting off a business you know your core, but you don't know anything else."

When Lubuw went to the SBA the second time, he got a loan to turn his space from a loft into a state of the art web development center.

Being an entrepreneur is in his blood. In college, when he couldn't afford food, he got creative.

"There's these tall guava trees in the back of the dorm and I chopped one of the trees down, and for about a month I caved a speargun out of guava."

He used the speargun to hunt fish. And when he got tired of eating fish?

"I'd trade BBQ fish for korean fried chicken."

Labuw says the first step is the most important.

"Just get started. One day at a time. Keep exposing yourself to info and don't be afraid of getting out there. When you're back is up against the wall, you'll be surprised at the things you can do."

The Small Business Administration and the Bank of Hawaii have resources available to entrepreneurs who need funding, or advice.

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