Loan fund; demonstration project

In order to provide funding that is not available from private sources, the Commissioner shall award a grant to the Office of Hawaiian Affairs of the State of Hawaii (referred to in this section as the “Office”), which shall use that grant to carry out, in the State of Hawaii, a demonstration project involving the establishment of a revolving loan fund— The Office may make a loan or loan guarantee to a borrower under subsection (a)(1)(A) only if the Office determines that— Each loan or loan guarantee made under subsection (a)(1)(A) shall be— at a rate of interest that does not exceed a rate equal to the sum of— Upon receiving such notice, the Commissioner shall instruct the Office— The Office shall, out of funds available in the revolving loan fund established under such subsection— Not later than 120 days after November 29, 1987, the Commissioner, in consultation with appropriate agencies of the State of Hawaii and community-based Native Hawaiian organizations, shall prescribe regulations which set forth the procedures and criteria to be used— Such report shall include the views and recommendations of the Commissioner with respect to the revolving loan fund established under subsection (a)(1) and with respect to loans made from such fund, and shall—