Businesses continue to struggle all over Maui, and with the 14-day quarantine being extended until September most small business owners are wondering how they are going to stay afloat. In June, Maui County added nearly $800,000 to the Micro Business Loan Program, which Mayor Michael Victorino is strongly recommending struggling businesses take advantage of. Since the pandemic began back in March, the program has been able to provide over $1 million in loans to small businesses.
The Maui Chamber of Commerce is in charge of administering the program and fielding the applications. 123 applications have been submitted and reviewed by the Chamber’s Loan Committee, resulting in well over $1 million being loaned to 71 Maui businesses. There are still 47 applications pending, and most of those will now likely be approved with the addition of funds from Maui County.
All small business owners are being encouraged to apply, just to see if they qualify. If you have lost revenue or been impacted by COVID-19 you should be able to receive the financial assistance you need to keep employees on board, pay the rent, and buy supplies. Most local businesses have been able to get creative and offer what they have to local clientele while following all the county rules and regulations regarding COVID-19. Others haven’t been so fortunate and rely on a steady flow of tourists to run their business successfully.
If you have questions, are curious about the program or you would like to apply for assistance you can visit the Maui Chamber of Commerce website here.