HI-CAP Program

HI-CAP Program is sponsored by Hawaiʻi Technology Development Corporation (HTDC) and Hawaiʻi Green Infrastructure Authority (HGIA). Provides capital assistance to Hawaii's small businesses, startups, and entrepreneurs, funded by the U. S.

Treasury under the State Small Business Credit Initiative.

HI-CAP Program Administrators Announce $20 Million Boost to Small Business Support – Hawaiʻi Technology Development Corporation February 19, 2025 – PRESS RELEASE [PDF] The Hawaiʻi Technology Development Corporation (HTDC) and Hawaiʻi Green Infrastructure Authority (HGIA), co-administrators of the State Small Business Credit Initiative, are proud to announce the receipt of an additional $20.

5 million in federal funding to bolster the Hawaiʻi Small Business Capital Program (HI-CAP). This significant infusion brings the total federal support to $40. 3 million, underscoring HTDC’s and HGIA’s commitment to strengthening Hawaiʻi’s economy by empowering local small businesses and nonprofits.

Established in the aftermath of the COVID-19 pandemic, the HI-CAP Program was designed with community input to address the unique challenges faced by Hawaiʻi’s small businesses. Collaborating with partners such as venture funds, banks and Community Development Financial Institutions (CDFIs), ensures that these funds are effectively leveraged to foster economic growth and facilitate access to capital to organizations across the state.

The HI-CAP Program offers four tailored initiatives: HI-CAP Collateral : Collaborates with participating financial institutions to provide cash collateral to eligible small businesses, enhancing their ability to secure loans. HI-CAP Loans : Lends to businesses undertaking transformative projects that have a significant community impact, including sectors like renewable energy, dual-use technology and innovation.

HI-CAP CDFI Loan Program : Provides capital to CDFIs, enabling them to offer various loan types to eligible small businesses. HI-CAP Invest : A fund-of-funds venture capital program designed to invest in high-quality investment managers who mentor and advise entrepreneurs, facilitating follow-on investments.

Eligibility for the HI-CAP Program extends to Hawaiʻi-based small businesses with fewer than 500 employees, encompassing a diverse range of industries such as technology, renewable energy, manufacturing and agriculture. By supporting these enterprises, HI- CAP not only fuels economic development, but also ensures that local tax dollars are utilized to create meaningful impacts within our communities.

“This additional funding reinforces our dedication to empowering Hawaiʻi’s small businesses,” said Gwen Yamamoto Lau, executive director of HGIA. “By providing access to capital, we are fostering innovation, creating jobs, and strengthening the economic fabric of our state. ” For more information about the HI-CAP Program and its offerings, please visit: https://www.

htdc. org/funding/hi-cap/ https://gems. hawaii.

gov/hawaii-small-business-capital-program-hi-cap/ About the Hawaiʻi Technology Development Corporation (HTDC) HTDC is a state agency attached to the Department of Business, Economic Development and Tourism (DBEDT), focused on promoting and developing Hawaiʻi’s technology industry. With a mission to facilitate the growth of technology and innovation, HTDC plays a key role in connecting talent with opportunities in the state.

The state of Hawaiʻi’s HI-CAP program provides capital assistance to Hawaiʻi’s businesses, start-ups, and entrepreneurs. It is funded by the U.S. Treasury for the State Small Business Credit Initiative (SSBCI), a part of the American Rescue Plan Act of 2021. For more information, please visit htdc.

org. About the Hawaiʻi Green Infrastructure Authority (HGIA) The Hawaiʻi Green Infrastructure Authority, administratively attached to the Department of Business, Economic Development and Tourism, is a state agency committed to democratizing clean energy by making investments accessible and affordable for Hawaiʻi’s underserved ratepayers, while stimulating private investments and leveraging innovative financing tools.

HGIA also provides credit enhancements and non-traditional HI C-PACER financing to expand access to capital for small businesses, nonprofits and commercial property owners statewide. HGIA supports Hawaiʻi’s goal of achieving 100% clean energy in the electricity sector by 2045. ( gems.

hawaii. gov ) Hawaiʻi Technology Development Corporation Email: umma. berkelman@hawaii.

gov Email: colleen. ching@gray. tv