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Relating To Economic Development.

Engrossed on 3/5/26

Summary

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From the Legislature

Establishes the Hawaii Micro-Lending Credit Enhancement Program within the Department of Business, Economic Development, and Tourism to expand micro-lending capacity by providing statefunded loan loss reserves or other credit enhancement that absorbs first losses on qualified micro-loans made by participating lenders to Hawaii small businesses. Allows borrower fees and state matching contributions to capitalize lender-held loan loss reserve accounts. Establishes the Hawaii Micro-Lending Credit Enhancement Special Fund. Requires reports to the Legislature. Appropriates funds. Effective 7/1/3050. (SD1)

Sponsors

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8
2
RR
Democratic CaucusRepublican Caucus

Roll Call Votes

11 Yea

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0 Nay

2 Absent

DD

Calendar

Feb 13

8:30 AM

House Economic Development Hearing

Mar 2

2:00 PM

House Finance Hearing

Mar 17

1:00 PM

Senate Economic Development and Technology Hearing

Apr 7

10:30 AM

Senate Ways and Means Decision