The University of Hawaii, with a grant from Hoku Scientific Inc., is establishing a fund that will make loans to students seeking to launch their own business ventures.

The $130,000 Microloan Fund will be administered by the Pacific Asian Center for Entrepreneurship at the UH’s Shidler College of Business.
“These loans will provide students — Hawai‘i’s future entrepreneurs — with resources to launch their own business ventures, as well as provide them with valuable mentoring and professional development opportunities,” said Dustin Shindo, president and chief executive officer of Hoku.
Hoku Scientific donated warrants for Hoku shares in 2005 that were sold by UH Foundation for more than $130,000 after the company’s initial price offering. The proceeds were used to establish the Microloan Fund, which will provide as much as $20,000 per semester for loans ranging from $500 to $5,000.