HI Department of Agriculture
These renewable energy loans fall into class "H" which carries a 3% interest rate for agriculture. The interest rate for aquaculture projects is 5%. If the money loaned is borrowed by the Department of Agriculture, the interest rate will be the greater of 3% for agriculture and 5% for aquaculture or 1% greater than the State’s cost of borrowing the money. The Department of Agriculture generally funds these loans using existing revolving loan funds rather than obtaining outside funding. These loans bear simple interest on the unpaid principal balance, charged on the actual amount disbursed to the borrower.