City & County of Honolulu Announces Small Business Relief and Recovery Fund
(As of May 13, 2020) $25 million in CARES Act Funding
On May 12, 2020, the City and County of Honolulu announced a Small Business Relief Fund using $25 million in Coronavirus Aid, Relief and Economic Security Act (“CARES”) funding.
2,500 small businesses will receive a grant of $10,000 for each eligible and approved small Oahu business.
Eligible small businesses must meet the following conditions: v Oahu-based business operating in the City & County of Honolulu v 30 or fewer employees v $1 million or less in annual revenues v Demonstrate hardship due to COVID-19 Expenditures could be used for: rent, utilities, payroll, other overhead or capital expenses, as well as costs for COVID-conscious modifications including hand sanitizing stations, implementing physical distancing and other safety precautions. The City partnered with 4 Hawaii credit unions including:
We highly encourage ALL small Oahu businesses that have less than $1 million in revenues and under 30 employees to apply for the $10,000 grant on Monday, May 18th when the fund launches.
The application turnaround time is expected to be 3 days with money being disbursed within 5 to 7 days of approval on a first-come, first-served basis.
The application will be posted at the website link below on 5/17/20. |