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Limitations on state contribution to reserve account

HRS §211D-7
in effect
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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]
Source: Hawaii State Legislature (capitol.hawaii.gov), via Internet Archive capturesURL: http://www.capitol.hawaii.gov/hrscurrent/Vol04_Ch0201-0257/HRS0211D/HRS_0211D-0007.htmFetched: 11/10/2026

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