DBEDT; Hawaii Micro-Lending Credit Enhancement Program; Credit Enhancement; Loan Loss Reserves; Small Businesses; Special Fund; Reports; Appropriation
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Progress
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- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
Establishes the Hawaii Micro-Lending Credit Enhancement Program within the Department of Business, Economic Development, and Tourism to expand micro-lending capacity by providing state‑funded 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 annual reports to the Legislature. Appropriates funds out of the Special Fund. (CD1)
Bill text
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Document of record
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- HB2583 .PDF file
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