Small Business Revitalization Grants
Maui County OED News Release
Funding for small business revitalization is available for Molokai and Hana, the Mayor’s Office of Economic Development (OED) announced. The grant awards will range from $500 to $5000; nonprofit entities are not eligible for this program. Small Business Revitalization grants totaling $24,000 were awarded to small businesses on Lanai, and applications are now being accepted for a second round of grants for businesses in Hana and on Molokai.
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 Hana and Molokai, 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 mauicounty.gov/OED (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 firstname.lastname@example.org. The deadline for applying for this round of funding is April 15.
“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 Hana 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.”
The Mayor’s Office of Economic Development has a variety of grant programs targeted to different sectors in the economy. For more information on grant availability, visit the OED website at mauicounty.gov/OED.