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Hawaii Revised Statutes Division 1. Government § 211D-7

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) The amount deposited by the department into a participating financial institution's reserve account for any single loan recipient may not exceed $100,000 during a three-year period.

(b) The maximum amount the department may deposit into a reserve account for each capital access loan made under this chapter is the lesser of $35,000 or an amount equal to:

(1) Eight per cent of the loan amount if:

(A) The borrower is an eligible enterprise zone business located in an area designated as an enterprise zone under chapter 209E; or

(B) The borrower is a small or medium-size business or a nonprofit organization that operates or proposes to operate a child care facility or adult residential care home; or

(2) Six per cent of the loan amount for any other borrower.

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Cite this article: FindLaw.com - Hawaii Revised Statutes Division 1. Government § 211D-7 - last updated January 01, 2025 | https://codes.findlaw.com/hi/division-1-government/hi-rev-st-sect-211d-7/

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