HI HB2439

Establishes the Hawaii Start-up Business Loan Program to be administered by the Business Development and Support Division in coordination with the Hawaii Technology Development Corporation.

Defines eligible start-up businesses as those registered in Hawaii, in operation for three years or less, and meeting division-established qualifications.

Sets loan parameters including maximum loan amount of $10,000, maximum term of six years, fixed interest rate of 4% per annum, and allows interest payment deferral for up to 24 months from loan issuance.

Creates the Hawaii Start-up Business Loan Program Special Fund to be funded by legislative appropriations, interest collected from loans, and donations from public or private sources; appropriates $500,000 from American Rescue Plan Act funds for fiscal year 2022-2023.

Requires the department to submit annual reports to the legislature beginning with the 2023 regular session detailing program activities, implementation data, and loan repayments.