Section 15-3-4 - Provisions and restrictions relating to capital access loans(a) The lender shall be responsible for determining the recipient, the amount and interest rate of a capital access loan, and the fees and other related requirements related to the loan.(b) When enrolling a loan in the program, a lender may specify an amount to be covered under the program that is less than the total amount of the loan.(c) The maximum loan amount of one or more loans to any single borrower is $1,250,000.(d) The department, in its discretion, may allow a capital access loan to be sold on the secondary market under terms and conditions established or required by the department.(e) A capital access loan may only be used for: (1) working capital, which includes the cost of exporting, accounts receivable, payroll, inventory, and other short-term financing needs of the borrower; or(2) the purchase, construction, or lease of capital assets, including buildings and equipment used by the borrower.(f) A loan will not qualify as a capital access loan if the loan is used for: (1) Construction or purchase of residential housing;(2) Simple real estate investments, excluding the development or improvement of commercial real estate occupied by the borrower's business or organization;(3) Refinancing of existing loans not originally enrolled under this program; or(4) Insider loan transactions, as defined by the department.[Eff. ] (Auth: HRS §§ 211D-2 and 211D-4) (Imp: HRS §§ 21D-3 and 211D-5)