45 CFR § 1336.76 - Unallowable loan activities.
The following activities are among those activities not eligible for support under the revolving loan fund:
(b) Loans which would create a potential conflict-of-interest for any officer or employee of the Loan Administrator; loan activities which directly benefit these individuals, or persons related to them by marriage, or law.
(c) Eligible activities which are moved from the State of Hawaii;
(d) Investing in high interest account, certificates of deposit or other investments;
(e) Relending of the loan amount by the borrower;
(f) The purchase of land or buildings;
(g) The construction of buildings; and
(h) Purchasing or financing equity in private businesses.