Principal Foundation and MEDB partner for the Maui Business Recovery Fund

Sep 29, 2023

Kihei – September 28, 2023 – In partnership with the Principal Foundation, Maui Economic Development Board (MEDB) has provided support to 95 small businesses eligible for the Maui Business Recovery Fund. The purpose of the fund is to assist small businesses that have been directly impacted by the August 8, 2023 Lahaina and Upcountry wildfires.

Single payments for the $1,000 grants were issued. Priority consideration was given to applicants whose physical businesses were within the fire impact zones.

Applications were open for a brief period in mid-September. “With the high demand for the funds, the application link was closed in less than 48 hours and unfortunately there were dozens of applications that were unable to be accommodated with this round of funding,” said Leslie Wilkins, President and CEO of MEDB.

“We are working with the County of Maui, Hawaii Community Foundation, and other partners to expand recovery fund offerings.”

Of the 95 businesses, three were based in Kula and the remainder in Lahaina. 70% of businesses were destroyed with the remaining 30% suffering partial destruction or closure of business due to location and lack of visitors.

“The wildfires in Maui and resulting losses have captured the thoughts, hearts, and prayers of the world,” added Wilkins. “We would like to assure residents that we will strive in the weeks and months ahead to serve our community’s vision for recovery and renewal,”

MEDB is a nonprofit corporation established in 1982 with a mission to lead and inspire innovation in business, education, and community. MEDB is immersed in recovery efforts and coordinating with groups to maximize the support — from assisting small businesses with grants/loans, to collaborating with the space tech community to deploy satellite technology for wifi and cell connectivity to affected areas.

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