Resources for Businesses

Check with your bank, financial institution and/or insurance provider on what programs are available for customers who are impacted by COVID-19.

he U.S. Treasury has established new tax relief programs for qualified businesses and entities impacted by the COVID-19 pandemic. These include:

• A refundable Employee Retention tax credit that is 50% of up to $10,000 in qualified wages paid to an employee by an eligible employer. This credit is for wages paid from March 13, 2020, through December 31, 2020.
• Coronavirus-Related Paid Leave for Workers and Tax Credits for Small- and Mid-Size Businesses. If you employ fewer than 500 employees, you may be eligible for funds to provide them with paid leave, either for their own health needs or to care for family members. For more information on these tax credits, visit The IRS' Webpage On COVID-19 Employer Tax Credits.
• Employment tax deferral through December 31, 2020, for eligible employers' portion of Social Security taxes and self-employed individuals' payment of certain self-employment taxes. For more information, visit the IRS' webpage on Deferral Of Employment Tax Deposits And Payments Through December 31, 2020.
• Business Tax Relief: Information and guidance on other coronavirus tax relief measures is available on the IRS' webpage, Coronavirus Tax Relief For Businesses And Tax-Exempt Entities.

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The SBA will pay 6 months of principal, interest, and any associated fees that borrowers owe for all current 7(a), 504, and Microloans in regular servicing status as well as new 7(a), 504, and Microloans disbursed prior to September 27, 2020. This relief is not available for Paycheck Protection Program loans or Economic Injury Disaster loans. SBA Borrowers: Contact your lender if you have any questions. Visit the SBA Debt Relief webpage for more information.

Maui Economic Development Board (MEDB), the County of Maui Office of Economic Development, and various community partners have put together an online resource directory to support our islands’ small businesses. Whether you are looking to retool and/or respond to COVID-19, this directory offers a list of local service providers who can help you conduct your business safely, adapt and/or pivot your operations, and help you invest in technology infrastructure to expand virtual platforms, web-based marketing and e-commerce.

An opportunity for Maui County businesses to share their kama’aina deals at no cost; for locals to take advantage of great discounts on staycations, meals, services and products.

The County of Maui’s Virtual Job Fair is an online resource for employers seeking workers, and for residents seeking employment and career opportunities. The website provides job search tools, career counseling, and information on career training opportunities, resume building, internships, college certificates/degrees, financial aid opportunities and more.

This project is a collaboration between the County of Maui’s Office of Economic Development, the Maui County Workforce Development Board and the University of Hawaii Maui College.

The EIDL program provides economic relief to businesses experiencing a temporary loss of revenue due to COVID-19. Its purpose is to help eligible organizations meet financial obligations and operating expenses that could have been met had the COVID-19 disaster not occurred. Visit the SBA Economic Injury Disaster Loan webpage for more information on eligibility criteria, terms, FAQs, loan application and more.

Small businesses that already have a business relationship with an SBA Express Lender may be able to access up to $25,000 quickly. These loans can be term loans or used to bridge the gap while applying for a direct SBA Economic Injury Disaster Loan (EIDL). For more information, download an SBA Express Bridge Loan Pilot Program Guide.

SBA, in consultation with the U.S. Treasury Department, reopened the Paycheck Protection Program (PPP) for First Draw PPP Loans the week of January 11, 2021. SBA will begin accepting applications for Second Draw PPP Loans on January 13, 2021.

To promote access for smaller lenders and their customers, SBA will initially only accept Second Draw PPP Loan applications from participating community financial institutions (CFIs), which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries. Paycheck Protection Program lending will reopen to all participating lenders shortly thereafter. At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods.

Restaurants and restaurant-related businesses may apply for grants from the SBA Restaurant Revitalization Fund.The American Rescue Plan Act established the Restaurant Revitalization Fund to provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than$5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.

This COVID-19 relief bill makes grants available to live venue operators and promoters, theatrical producers, live performing arts organization operators, museum operators, motion picture theatre operators, or talent representatives that meet certain criteria. Grants may be used for specific costs such as payroll, leases, utilities, and other ordinary business expenses. The following bulletin outlines eligibility guidelines and grant availability.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides relief for eligible organizations impacted by the COVID-19 pandemic. Under the CARES Act:

• The U.S. Small Business Administration (SBA) established several temporary funding programs for eligible small businesses, nonprofits, and U.S. agricultural businesses
• The U.S. Treasury extended coronavirus tax relief programs to eligible employers severely impacted by the COVID-19 pandemic.

Resources:

• SBA Coronavirus Relief Options Webpage
• IRS Cornavirus Tax Relief For Businesses Webpage

The Maui American Job Center provides free services to employers and job-seekers, including unemployment guidance, job postings and job search assistance, training opportunities, career planning and other resources. Employers can post job openings and search through resumes for potential candidates.