HRS §210D-9
Rules for community and operating loans
This section explains what loans under this chapter can be used for and who can get them. Loans are for starting or improving a community business or for operating an existing one. The maximum loan amount and term are set by law.
borrowersbusinesses
The statute, as written — Loans; limitation and terms
Loans made under this chapter shall be for the purposes and in accordance with the terms specified in paragraphs (1) and (2) and shall be made only to applicants who meet the eligibility requirements specified therein. (1) Community-based enterprise establishment and improvement loans may be made to provide for: (A) The start-up costs, purchase or improvement of a community-based enterprise or working capital; and (B) The purchase, construction, or improvement of facilities; and (2) Operating loans may be made to carry on and improve an existing enterprise, including: (A) The purchase of equipment; and (B) The payment of production and marketing expenses including materials, labor, and services. The loans shall be for an amount not to exceed $250,000 and for a term not to exceed ten years.
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