Hawaii Capital (HI-CAP) Small Business Capital Program
Hawaiʻi Technology Development Corporation (HTDC) / Hawaiʻi Green Infrastructure Authority (HGIA)
SSBCI-backed loans & collateral
Hawaii small-business capital access
Hawaii's State Small Business Credit Initiative (SSBCI) capital-access program, jointly managed by the Hawaiʻi Technology Development Corporation (HTDC) and the Hawaiʻi Green Infrastructure Authority (HGIA), both attached to the Department of Business, Economic Development and Tourism (DBEDT). Launched in 2022 with $62 million in federal SSBCI funding and running through 2030, HI-CAP provides several routes to capital for Hawaii small businesses: HI-CAP Collateral (state-backed cash collateral so a bank will make a loan), HI-CAP Loans (HGIA financing for transformative projects in renewable energy, innovation, local agriculture, dual-use technology, manufacturing, and creative industries), a HI-CAP CDFI Loan Pool for microloans through community development financial institutions, and HI-CAP Invest (a venture funds-of-funds). Most small businesses are eligible, with emphasis on socially and economically disadvantaged (SEDI) owners.
- Funding type
- Loan
- Level
- State
- Amount range
- SSBCI-backed loans & collateral
- Realistic amount
- Microloans through the CDFI pool are small (typically a few thousand to tens of thousands), …
- Deadline
- Rolling through the program's 2022–2030 term; applications are made via the relevant component (HTDC or HGIA) or through a participating lender/CDFI.
- Status
- active
- States
- Hawaii
- Payment model
- loan
Who qualifies
- Hawaii small business or nonprofit (most businesses eligible)
- Emphasis on socially and economically disadvantaged individual (SEDI) business owners
- For HI-CAP Loans: project in renewable energy, innovation, local agriculture, dual-use technology, manufacturing, or creative industry
- Borrowing through a participating lender (Collateral), HGIA (Loans), or a CDFI (CDFI Loan Pool)
What it covers
Eligible expenses
- Working capital
- Equipment and machinery
- Real estate / facilities (as underwritten)
- Project costs in targeted sectors (renewable energy, agriculture, manufacturing, innovation, creative industries) for HI-CAP Loans
Ineligible expenses
- Uses prohibited under SSBCI rules
- Purposes outside the chosen component's scope
How to apply
-
1
Choose the right HI-CAP component
Identify whether you need collateral support to get a bank loan (HI-CAP Collateral), direct project financing (HI-CAP Loans via HGIA), or a microloan (HI-CAP CDFI Loan Pool). Contact HTDC (hicap@htdc.org) if unsure.
~3 hrs
-
2
Apply through the appropriate channel
For Collateral, apply with a participating financial institution; for Loans, apply via HGIA's GEMS portal; for microloans, apply through a partner CDFI. Provide business financials and project details.
~8 hrs
-
3
Underwriting and approval
The lender, HGIA, or CDFI underwrites the request with SSBCI credit support behind it and issues a decision.
~4 hrs
-
4
Close and draw funds
Close the loan or collateral-supported facility and draw funds for the approved business purpose.
~2 hrs
HI-CAP is really four programs under one name — pick the right door. If your bank just needs more collateral, use HI-CAP Collateral; if you need a small loan and can't get a bank, go straight to a CDFI partner; only the HGIA-run HI-CAP Loans require a project in the targeted sectors like renewable energy or local agriculture.
Deadline & timing
No fixed deadline. Choose the component that fits (Collateral, Loans, CDFI microloan, or Invest) and apply through HTDC, HGIA's GEMS portal, or a partner lender/CDFI.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.