COVID-19 Business Resources
State’s Recovery Program link – Stay up to date with policy changes, reopenings, and events.
The following is a list of resources to help small businesses with funding and resources to get through this COVID-19 economic disaster.
The Department of Business, Economic Development and Tourism (DBEDT)’s list of resources for Hawaii small businesses including funding programs from the US Small Business Administration (SBA):
- Paycheck Protection Program
- Eligible recipients may qualify for a loan up to $10 million determined by 8 weeks of prior average payroll plus an additional 25% of that amount.
- Loan payments will be deferred for six months.
- If you maintain your workforce, SBA will forgive the portion of the loan proceeds that are used to cover the first 8 weeks of payroll and certain other expenses following loan origination.
- Economic Injury Disaster Loans and Loan Advance
- Small business owners are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
- The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million to help small businesses overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
- Debt Relief
- The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months.
- The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020.
- SBA Express Bridge Loans
- Allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
Find out more at the SBA Coronavirus Relief Options site.
Get help with your applications
Technology and Manufacturing Businesses
The Hawaii Technology Development Corporation (HTDC) has put together a list of resources and opportunities for tech and manufacturing companies to help find solutions and assistance for communities and first-responders.
Please ask your business banker for any assistance programs they might have that could help as well including but not limited to:
General COVID-19 updates and other resources