HB 2583: DBEDT; HAWAII MICRO-LENDING CREDIT ENHANCEMENT PROGRAM; CREDIT ENHANCEMENT; LOAN LOSS RESERVES; SMALL BUSINESSES; SPECIAL FUND; REPORTS; APPROPRIATION
- Session Year: 2025-2026
- House: House
- Latest Version Date: 2026-05-01
Current Status:
In Progress
(2026-05-08: Received notice of passage on Final Reading in House (Hse. Com. No. 888).)
Introduced
In Committee
First Chamber
In Committee
Second Chamber
Final Decking
Enacted
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)
Discussed in Hearing
2MINConference Committee
30SECConference Committee
47SECConference Committee
1MINConference Committee
44SECConference Committee
2MINSenate Standing Committee on Commerce and Consumer Protection
2MINSenate Standing Committee on Ways and Means
1MIN