Mayor Michael Victorino recently announced the launch of the Maui County Adaptability Fund to help local small businesses recover and survive the impacts from COVID-19. The County has allocated $5 million to the Fund. Maui Economic Development Board (MEDB) is administering the Adaptability Fund, a program funded by the CARES Act and proposed by Mayor Victorino’s MauiCARES Task Force.
“The purpose of the Adaptability Fund is to provide grants to help Maui County’s small businesses comply with health and safety guidelines, as well as adapt to the ‘new normal’ amid COVID-19,” said Mayor Victorino. “The fund also gives business owners the flexibility to customize their investments, and retool or restructure based on their needs.”
Applications must be received by Friday November 6. Grants would assist businesses with modifying operations and investing in technology infrastructure to expand their virtual platforms, web-based marketing and E-commerce. Grants are expected to range from $5,000 to $25,000.
According to Leslie Wilkins, MEDB President and CEO, “Over 200 Maui County businesses have already applied, and members of the independent Adaptability Fund Review Committee are working long hours to evaluate the applications. MEDB held a webinar to help small business owners understand the application process, eligibility criteria and get their questions answered. Replays, tutorials and answers to frequently asked questions can be found on the application website mauicountyadaptabilityfund.org.”
Businesses must have an active registered business name with the Hawaii Department of Commerce and Consumer Affairs (DCCA) and should be fully compliant with a current Certificate of Good Standing dated June 1, 2020, or later from DCCA. This Certificate must show incorporation in the state of Hawaii and a mailing address in Maui County. On acceptance, the initial grant distribution is expected to cover 50 percent of the total amount approved. To receive the remaining funds, a spreadsheet template (provided on the website) detailing relevant expenses must be completed, with supporting receipts or proof of payment, as well as the final report. These documents must be received no later than Monday, November 16, 2020.
In association with the Adapability Fund, MEDB has also created an online resource directory to help Maui County’s small businesses find special services and products during COVID-19. The directory, Ho’oulu Maui Nui, created is a one-stop, online resource for small businesses looking for local service providers, and businesses wanting to reach potential customers by publicizing their services and products.
This business directory is a great opportunity for local businesses to connect and support one another as we take on the challenges brought by COVID-19,” said Victorino. “Reinvesting in our local economy and vendors ensures we’re getting the most out of our CARES Act funds, while still getting quality work and products.”
Some of the types of business listed in this directory are Business Leasing, Business Finance Consultant, Cleaning Restoration, Commercial Printer, Design, Remodeling, and Construction, Employee Recruiter, Export Consultant, Food Scientist and Technologist, HVAC Filtration Expert, IT Consultant, Marketing, PR, and Social Media Consultant, PPE Provider, Photographer, Videographer, and other services.
To apply for the Adaptability Fund go to www.MauiCountyAdaptabilityFund.org, call (808) 875-2300, or email AdaptabilityFund@medb.org.