§210D-10 Terms of loans. Loans shall be made to qualified applicants with the following terms and conditions:
(1) The amount of the outstanding balance on all loans issued under this chapter to any one applicant at any one time shall not exceed $250,000;
(2) The maximum term of a loan shall not exceed ten years;
(3) Each loan shall bear simple interest at a rate of not less than three and not more than six per cent a year, depending on the nature of the loan; and
(4) The commencement date for the repayment of the first installment on principal and interest of each loan may be deferred by the director of business, economic development, and tourism for a period not to exceed two years. [L 1990, c 111, pt of §2; am L 1996, c 192, §10; am L 2009, c 124, §7]
Structure Hawaii Revised Statutes
Title 13. Planning and Economic Development
210D. Community-Based Development
210D-3 Hawaii community-based economic development technical and financial assistance program.
210D-4 Hawaii community-based economic development special fund; established.
210D-5 Community-based economic development advisory council; established.
210D-6 Compensation and expenses of members.
210D-9 Loans; limitation and terms.
210D-11 Grants; conditions and qualifications.
210D-12 Priorities and preferences.