he U.S. Treasury has established new tax relief programs for qualified businesses and entities impacted by the COVID-19 pandemic. These include:
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.
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.
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 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.
Nonprofits providing public assistance feedings during this pandemic may qualify for cost reimbursements under this Federal Emergency Management Agency (FEMA) grant program. Once your application is completed, you will be contacted by the Hawaii Emergency Management Agency (HIEMA). You should also attend a HIEMA webinar to get more information. FEMA assistance is provided at 75% federal cost share. For more information about the grant program, application form and instructional webinars, visit HIEMA’s FEMA Public Assistance Grant Program webpage.
The County of Maui Volunteer Center offers free support, training and resources to local nonprofits facing COVID-19 challenges. For more information, visit the Volunteer Center's website at HandsOnMaui.com or call the Volunteer Center Coordinator at 808-270-7150.