Small Business Grant
Small Business Boost Grant 12/11/2020 UPDATE:
The County of Kaua‘i announced it will provide grant funding to 180 Kaua‘i businesses that remained on its application waitlist for the Small Business Boost Grant Program, which originally opened in August. The program is funded by the county’s share of the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.
“The County of Kaua‘i has been determined from the start to spend every dollar given to us through the CARES Act and ensure that funding goes directly into our economy and into our community,” said Mayor Derek S.K. Kawakami. “As the year comes to a close, and our deadline for the CARES Act grant draws near, our county agencies and grant managers are working meticulously to meet our goal. That’s why we have re-prioritized our CARES budget to provide an additional $1.35 million to our small businesses through this second round of the Small Business Boost Grant Program.”
You can view the list of businesses that received funding from the initial round of the Small Business Boost Grant here.
Kauai Small Business Boost Grant:
The County of Kauai is partnering with local credit unions to launch the Small Business Boost Grant. The purpose of this grant is to help Kauai small businesses that have been impacted by COVID-19. The grant will provide $7,500 in financial support to help offset losses related to the COVID-19 pandemic.
The County of Kauai is partnering with local credit unions who will distribute the funds. You do NOT need to be a member of the credit union and will not be asked to join. Partner Credit Unions include: Gather FCU, HawaiiUSA FCU, Kauai Government Employees’ Federal Credit Union (KGEFCU) and Kauai Teachers FCU.
Eligible entities that have been financially impacted by COVID-19 may receive a one-time grant of $7,500. To be eligible, the entity must have less than 20 employees, have been in operation on Kauai for at least one year and intend to remain in business on Kauai amidst the new COVID-19 landscape. The entity must also meet at least one of the following:
- Have at least one employee.
- Hire at least one independent contractor.
- Operate from a commercial location or contribute to a lease of such a commercial location to operate their business.
Entities must certify that they were negatively impacted financially by COVID-19 and/or that they need financial assistance to adapt. Examples include: reduced sales or suspended operations, increased costs related to COVID-19 prevention measures, or disrupted supply network leading to shortage of critical inventory or materials.
Entities must certify that funds will go toward expenses related to COVID-19. Examples of expenses include Rent, Utilities, Payroll, COVID-19 Safety Precautions, or re-investment into the business in light of the new COVID-19 landscape. Examples of re-investment into the entity in light of the new COVID-19 landscape include: technology, education, new business plan and execution, new market strategy to re-focus on local market, or other expenses related to generating revenue or curbing expenses.
You can view the full eligibility criteria and the frequently asked questions documents using the links below. We have also provided the list of questions that will be included on the application. Please note that to be considered for the grant, you must APPLY ONLINE.
How to Apply and Timeline:
We have received 886 applications for the Small Business Boost Grant as of 4:30pm on August 24, 2020. The application is now closed. The participating credit unions are reviewing the applications that have been submitted. Applicants will receive notification of their funding status within three days.