Section 15-5-6 - Eligibility requirements To be eligible for consideration for a loan, an applicant shall be required to meet the following criteria:
(1) The applicant is not able to obtain the desired loan on reasonable terms from two financial institutions of which one shall be the institution currently dealt with.(2) The applicant furnishes information to show that the applicant has the ability to repay the loan out of income from the venture;(3) The purpose of the loan is in conformity with the provisions of section 15-5-5;(4) The applicant furnishes information to show that the invention or product does not or will not infringe on another person's patent rights or copyrights; and(5) The applicant has clear title to the invention or product.[Eff. APR 03 1982; am and comp DEC 21 1989] (Auth: HRS § 211E-2) (Imp: HRS § 211E-2)