Ka Wai Ola - Office of Hawaiian Affairs, Volume 12, Number 12, 1 December 1995 — NATIVE HAWAIIAN REVOLVING LOAN FUND [ARTICLE+ILLUSTRATION]

NATIVE HAWAIIAN REVOLVING LOAN FUND

The NHRLF is a program jointly funded by OHA and the Administration for Native Americans. It provides loans at low interest for the start up or expansion of wholly Hawaiian-owned businesses. The interest rate is set at 2% below the 6-month Treasury Bill index prevailing the date of loan approval. Loans are made up to $75,000, currently for a period of up to five years. To be eligible, the applicant must have been denied financing by two traditional lenders (e.g., commercial

banks, finance companies). The applicant and any other business owners or partners must be Hawaiian, reside and operate in Hawai'i, and have good credit. Loans ean be used for equipment and inventory, working eapital and/or leasehold

improvements for eommercial space, but cannot be used to acquire land or buildings, construct buildings, purchase of equity in private ventures or lending to other parties. Call 594-1921 for information on and applications for the Native Hawaiian Revolving Loan Fund.