Filing for Federal Business Funding
By Phil Pendergraft, President, The Molokai Dispatch
Last Friday, just after 10 a.m., The Molokai Dispatch filed its application for assistance under the Payroll Protection Program (PPP) of the CARES Act. The filing was accepted by the Bank of Hawaii and assigned a reference number. We learned some things through the application process we think might be helpful for fellow Molokai businesses.
The PPP is designed to provide assistance to small businesses, generally defined as having less than five hundred employees, in meeting payroll and other key costs through this diffi-cult time. If a business keeps its staff through the eight weeks following the loan, then the amount of the payroll costs during this period will be forgiven and the loan balance re-duced.…








