Small Business Revitalization Grants Available for Hāna and MolokaʻiAugust 2, 2016, 3:20 PM HST · Updated August 2, 3:31 PM 0 Comments
Applications are now being accepted for a third round of grants for businesses in Hāna and on Molokaʻi. The grant awards from the Mayor’s Office of Economic Development will range from $500 to $5000. Non-profit entities are not eligible for this program.
The small business revitalization grants are designed to assist businesses with fewer than 10 employees who do business in Maui County’s rural communities such as Hāna and Molokaʻi, which have been identified as the areas hardest hit in their ability to recover from the economic downturn of the past few years.
The grant funds may be used for new equipment, renovation, websites, marketing materials or other purposes that will help the businesses grow, prosper and create jobs.
The grant program is a 40/60 match grant, which means that for applicants accepted, for every $40 they contribute they will receive a match of $60.
Applications and rules for this program are available online at the Office of Economic Development website (click on “Grants & Awards” on the left side) or at Lokahi Pacific, which is managing the grant program.
For more information, call 242-5761 or email [email protected]
The deadline for applying for this round of funding is Oct. 17, 2016.
“This program is very innovative,” said Mayor Alan Arakawa, “because it allows each applicant to determine exactly what they need in their business and provides owners a great opportunity and low-cost way to grow their business.”
“Positive programs such as this have the ability to breathe some wind in our sales!” said Councilwoman Stacy Crivello. “For our existing businesses that can afford the match, this gives them an opportunity to leverage their funds.”
Councilman Robert Carroll noted that the Small Business Revitalization grants give Hāna residents who own their businesses a “unique opportunity to get the funds they need to do those projects they could not afford before. This will allow them to produce products more efficiently and thus become more profitable.”
OED Director Teena Rasmussen noted that these businesses strive hard to remain profitable, noting that “small micro grants are such a great way to preserve the jobs these companies offer in our rural communities.”
Lokahi Pacific was selected by OED as the master grantee and fiscal agent for Small Business Revitalization grants. Susie Thieman, Lokahi Pacific Executive Director, said this has been an “exciting and popular project for our agency.”
The Mayor’s Office of Economic Development has a variety of grant programs targeted to different sectors in the economy.