Mayor announces Micro Business Loan Program to support small local businesses
WAILUKU – Mayor Michael Victorino announced the launch of the Micro Business Loan Program to help business owners impacted by COVID-19.
The County of Maui is committing $1 million for the program, which will be administered by the Maui Chamber of Commerce, to support economic viability.
“We are so grateful to all those who are supporting the health of our people by staying at home. Through this partnership with the Chamber of Commerce, we can help them cover their finances during this difficult time,” Victorino said.
The Micro Business Loan Program provides five-year loans of $7,500 to $15,000 and seven-year loans of $15,001 to $25,000. Eligible businesses must have no more than ten employees, including owners and full- and part-time workers.
Businesses must also be located in Maui County for at least a year before March 4, 2020, and be registered to do business in Hawaii at that time.
Additionally, businesses must have sales revenue of $750,000 or less and have the ability to create full- or part-time employment for low- to moderate-income residents. They must also demonstrate the ability to repay the loan and have reasonable credit history and payment records.
“The Maui Chamber of Commerce is pleased to partner with County of Maui, Mayor Victorino and his team to support all micro businesses through this unprecedented county program,” Chamber President Pamela Tumpap said.
“You do not need to be a current member of the Maui Chamber of Commerce to apply for or receive a loan through this program. We are all in this together.”
Applications, loan criteria and guidelines for applying are available at MauiChamber.com. The chamber’s phone number is (808) 244-0081.
Victorino also announced that the Office of the Mayor has extended its COVID-19 call center hours.
The center operates from 7:45 a.m. to 7 p.m. Monday through Friday and 9 a.m. to 4 p.m. on Saturday and Sunday. The phone number is 270-7855.
The call center is available to answer questions relating to COVID-19 in Maui County. Individuals willing to offer supplies, help and resources are also encouraged to call.
For more information on COVID-19, visit mauicounty.gov and covid19mauinui.com.