Native Hawaiians starting a farm or expanding on an existing one have a new funding option with the introduction this week of the Office of Hawaii Affairs Native Hawaiian Revolving Loan Fund’s Mahi Ai Agricultural Loan Program.
What You Need To Know
The agricultural loans are available for up to seven years at a 4% annual percentage rate for amounts between $2,500 and $100,000 for in- or above-ground farming, greenhouse, hydroponic, livestock and other forms of farming
Business owners must be of Native Hawaiian ancestry and loan applicants must be adult residents of Hawaii with a credit score of 600 or higher and a dept-to-income ratio of no higher than 45%
The business must also be registered with the Department of Commerce and Consumer Affairs and be in good standing
