Establishes the Hawaii Start-Up Business Loan Program to support new businesses.
The bill establishes the Hawaii Start-Up Business Loan Program to provide loans to new businesses in Hawaii. The program aims to encourage entrepreneurship and promote economic diversification and resilience. The bill appropriates funds for the program, sets up a special fund for loan repayments, and establishes rules for loan eligibility and terms. The program is administered by the Department of Business, Economic Development, and Tourism, which will also report on its activities to the legislature. The bill takes effect on July 1, 2025.
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