2011 Hawaii Code
DIVISION 1. GOVERNMENT
TITLE 13. PLANNING AND ECONOMIC DEVELOPMENT
211D. Capital Access Program
§211D-7 Limitations on state contribution to reserve account.


HI Rev Stat § 211D-7 (2011 through Reg Sess) What's This?

[§211D-7] Limitations on state contribution to reserve account. (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. [L 2000, c 290, pt of §2]

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