HONOLULU -- The company trying to launch the Hawaii Superferry in the islands took a huge step toward that goal in Washington on Friday.

Federal maritime officials said Hawaii Superferry officials signed documents with private investors and the federal government Friday closing on $200 million in financing.

The loan has been guaranteed by the U.S. Maritime Administration for the construction of two high-speed catamaran-style ferries that would link Honolulu with Maui and Kauai.

The planned ferry hit a roadblock when environmental groups challenged the project, saying it lacked a proper environmental review.

The project is expected to launch in 2007.