§209-28  Purpose of loans.  (a) 
Commercial loans may be made for the following purposes:  to purchase
inventory, equipment, and machinery; to construct, repair, or restore
buildings; to provide operating funds; and to refinance outstanding business
loans on equipment and buildings; provided that the loans shall be used to
rehabilitate the business of the disaster victim as nearly as possible to its
predisaster level; and provided further that the loans shall not be used to
begin a business substantially different from the one the disaster victim was
engaged in before the state disaster.  Business concerns which were nonowners
of buildings before the state disaster shall not be precluded from obtaining
building loans under this part.



(b)  Personal loans may be made for the purpose
of meeting necessary expenses or to satisfy serious needs of individuals and
families including reciprocal beneficiaries which arose as an immediate and
direct result of a disaster. [L 1961, c 189, §14; Supp, §98P-14; HRS §209-28;
am L 1976, c 205, §1(2); am L 1997, c 383, §37]