Establishes a Hawaii start-up business loan program to support new businesses.
The bill creates a Hawaii start-up business loan program to provide financial assistance to new businesses. It establishes a special fund for the program and appropriates $500,000 for fiscal years 2025-2026 and 2026-2027. The program allows the business development and support division to issue loans up to $50,000 for a term not exceeding ten years, with no interest charged for the first five years. The program aims to encourage entrepreneurship and economic diversification by supporting new businesses that have been in operation for three years or less.
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