Section 15-3-3 - Capital Access Program(a) The purpose of the program is to assist lenders in making loans to small and medium-sized businesses and nonprofit organizations that face barriers in obtaining capital. The loan shall be used for a project, activity or enterprise in Hawaii that fosters economic development in Hawaii. The department may use money from the fund to make a deposit in a lender's reserve account, in an amount specified in this chapter, to be a source of money the lender may receive as reimbursement for losses on loans covered by the reserve account.(b) The department shall determine the eligibility of a lender to participate in the program and may set a limit on the number of eligible lenders that may participate in the program.(c) To participate in the program, an eligible lender shall enter into a participation agreement with the department that sets out the terms and conditions under which the department would make contributions to the reserve account established by the lender and specifies the criteria for a loan to qualify as a capital access loan.(d) To qualify as a capital access loan, a loan shall: (1) Be made to a small or medium-sized business or to a nonprofit organization as defined in this chapter;(2) Be used for a project, activity, or enterprise in Hawaii, that fosters economic development in Hawaii; and(3) Meet any other criteria provided by this chapter or established by the department.[Eff. ] (Auth: HRS §§ 211D-2 and 211D-4) (Imp: HRS § 211D-3)