RES 666 Draft 01 2018-2020 - Laserfiche WebLink

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Additional information for consideration: Compare this proposed program to the grant/Joan programs in 'Ionelulu, Maui, and Kaua`i Counties: O'ahu's $25.000,000 Small Business Relief and Recovery Fund is a reimbursement grant to small business for costs incurred from business interruption due to Emergency Proclamation & to help business implement safety precautions. haps://www.oneoahu.org/small-business • One-time reimbursement for expenses • <= $10K reimbursement/qualified business • <= $1,000,000 in gross annual revenue and • <= 30 employees Eligible businesses: • Registered with the Hawai'i DCCA and sole proprietors • Non-profit organizations registered with the DCCA and designated as tax-exempt under section 501(c)(3) or 501(c)(19) • Owner must be I lawai'i resident and business located in City/County of I lonolulu • Reimbursement program: proof of payment required: invoice, receipt, or other proof of payment needed • Examples of expenses: rent, utilities, payroll, physical distancing measures • Fund will not reimburse payments covered by CARES Act (PPP), EIDL, EIDL advance. etc. • May reimburse expenses incurred to implement physical distancing. other safety precautions to comply with business opening and operating guidelines Maui County's $1,000,000 micro-loan program is being administered by Maui Chamber of Commerce. • <= 10 full and part-time employees, including owners • Loans of$7.5K-$15K loan with 5 year payback • Loans of$15K-$25K loan 7 year payback Eligible businesses: • Registered with I Iawaifi DCCA and sole proprietorship • Businesses must also be located in Maui County for at least a year before COVID • Have ability to create full or part-time employment for low- to moderate-income residents. • Have ability to repay the loan, possess reasonable credit, and payment history.