HAR §15-127-17. Eligibility

(a) The corporation shall establish a seed capital program and may invest in: (1) A certified development company under Title V of the Small Business Investment Act of 1958, 15 U.S.C. 695 to 697, and the regulations adopted under those sections; (2) A small business investment company under Title III of the Small Business Investment Act of 1958, 15 U.S.C. 631 to 634, 636 to 649, and the regulations adopted under those sections; (3) A similar entity that may leverage its capital under a federal program; (4) A seed capital fund or partnership; or (5) Eligible enterprises. (b) The corporation shall establish a venture capital program and may invest in: (1) A certified development company under Title V of the Small Business Investment Act of 1958, 15 U.S.C. 695 to 697, and the regulations adopted under those sections; (2) A small business investment company under Title III of the Small Business Investment Act of 1958, 15 U.S.C. 631 to 634, 636 to 649, and the regulations adopted under those sections; 127-8 146 §15-127-18 (3) A similar entity that may leverage its capital under a federal program; (4) A venture capital fund or partnership; or (5) Eligible enterprises. (c) The corporation may establish a capital access program to assist businesses in obtaining financing. The corporation may underwrite the following sureties on behalf of borrowers with lending institutions and the State of Hawaii: (1) Insurance, a guarantee, or a letter of credit from any source for all or a part of a loan, debenture, or lease of others, public or private, or a revenue bond issue of the State or other entity or authority authorized by law to issue revenue bonds; and (2) Insurance, a guarantee, or a letter of credit for either a single loan, debenture, or lease or for any combination of loans, debentures, or leases, or a single revenue bond issue for all or a part of any combination of revenue bond issues. [Eff JUL 20 1991] (Auth: HRS §211F-2) (Imp: HRS §211F-2)