Mayor Michael Victorino announced an additional $1 million to the Kokua Maui County Small Business Recovery & Relief Fund, bringing the County of Maui’s total for the fund to $8 million in assistance to local businesses.
The final deadline for new, first-time applicants is Saturday, Oct. 31.
Eligible small businesses can receive a grant of up to $7,500. The fund is available for reimbursable business expenses such as rent/lease payments, utility payments and COVID-19-related safety precautions at a place of business.
So far, 926 businesses have been approved, with about $6.2 million disbursed. On Molokai, 31 businesses have been awarded $155,589, and seven Lanai businesses have received over $26,081.
The program using CARES Act funds was established in partnership with local federal credit unions to help small businesses impacted by COVID-19. About $1.8 million in funding is still available under the program.
“I want to give a very warm mahalo to our local federal credit unions for their tireless work in administering this program,” Mayor Michael Victorino said. “We have many local businesses on all three of our islands that are struggling during these difficult times, and this program provides some much-needed relief for our business community.”
“We want to thank Mayor and his staff for working with us and giving us the opportunity to give back to our community,” said Gary Fukuroku, President and CEO of Maui County Federal Credit Union. “We are appreciative in being able to help our Maui County businesses and hope that we can continue to assist them with their financial needs.”
Note: Any businesses that are closed but will reopen by Nov. 1, 2020, may apply and be approved for funding, provided they meet all current requirements. Proof of payment for the October rent or lease will be required.
For businesses that have already applied:
Program qualifications include having:
Recipients of the Maui Chamber of Commerce Micro Business Loans are eligible for a maximum of $3,750.
Businesses that do not qualify for the program include:
IMPORTANT NOTE: Small business applicants do not need to be credit union members to apply for grants.
The County of Maui has partnered with six chartered FCUs to implement the program: Maui County FCU, Maui FCU, Valley Isle Community FCU, Kahului FCU, Wailuku FCU and Maui Teachers FCU.
Businesses are encouraged to submit complete applications with all required information to expedite the process of receiving grant funds. Incomplete applications will not qualify. Applicants who’ve submitted incomplete submissions are strongly encouraged to work with local credit unions to complete their requests and submittals.
For information on the Kokua Maui County Small Business Recovery & Relief Fund, visit mauinuistrong.net/kokua-maui-county or call (808) 270-5745.