ECONOMIC INJURY DISASTER LOANS AVAILABLE FOR HAWAII SMALL BUSINESSES SUFFERING LOSSES DUE TO COVID-19
Hawai‘i small businesses suffering financial losses from the impact of COVID-19 can now file for low-interest working capital loans of up to $2 million from the Small Business Administration (SBA).
The SBA today approved a certification request submitted by Gov. David Ige, clearing the way for Hawai‘i small businesses to participate in the SBA’s Economic Injury Disaster Loan (EIDL) Assistance Program. The loans can be used to pay fixed debts, payroll and other bills that can’t be paid because of a disaster’s impact.
“Small businesses are a vital economic driver in our community, and we must do everything we can to support them as they struggle through this crisis,” said Gov. Ige. “We appreciate the SBA’s quick action to approve this loan program for small businesses that have been hit so hard by COVID-19 outbreak.”
Loan forms and additional information can be accessed online at the SBA’s Disaster Assistance Loan Portal.
REDUCING UNEMPLOYMENT DISRUPTION & DRIVING ECONOMIC REGENERATION (RUDDER)
Gov. Ige and DLIR Director Scott Murakami announced the launching of the Reducing Unemployment Disruption & Driving Economic Regeneration (RUDDER) program. RUDDER is the DLIR’s economic regeneration initiative that provides State Employment & Training Funds that immediately infuses money into the economy and serve as the foundational strategy for aligning federal workforce programs, such as the Disaster Recovery grants, in a unified effort to efficiently train and transfer labor into Hawaiʻi’s businesses that can help reduce job losses and dampen the economic slide due to COVID-19.
“The primary objective of RUDDER is to facilitate an efficient labor exchange between the sectors hardest hit by COVID-19 and healthcare sector employers hiring employees to combat COVID-19,” said DLIR Director Scott Murakami. “We know that jobs involving cleaning, such as hotel housekeepers, could move into jobs in the healthcare with minimal training and the RUDDER program will facilitate that exchange.”
The DLIR has posted a COVID-19 Workplace Updates page at: http://labor.hawaii.gov/get-the-latest-covid-19-workplace-updates/.