Schatz Releases New COVID-19 Federal Resource Guide To Help Hawai‘i Small Businesses Access New Funding, Programs
Updated Resource Guide Includes Information On New Relief Funding, New Program To Support Live Venue Operators, Museums, Independent Movie Theaters; Schatz’s Resource Guide Available At Schatz.Senate.Gov/Coronavirus/Small-Businesses
WASHINGTON – U.S. Senator Brian Schatz (D-Hawai‘i) today released an updated resource guide to help Hawai‘i small businesses better understand how to access federal loans and new federal funding. The new $900 billion relief package, which is the second largest aid package in American history and was signed into law on Sunday, includes a new round of federal funding for small businesses and nonprofits and a new program to support live venue operators, including museums and independent movie theaters.
“The new round of funding will help Hawai‘i small businesses meet their payroll and provide people with paychecks,” said Senator Schatz. “As more federal help becomes available, we’ll continue to work to provide more information about how Hawai‘i families and businesses can access these new resources.”
The new COVID-19 relief funding includes $15 billion nationwide to a new Small Business Administration (SBA) grant program for live venues impacted by the public health crisis. Eligible grant recipients include live venue operators, promoters or theatrical producers, independent movie theatre operators, museum operators, and talent representatives. Of the total amount, $2 billion is set aside for eligible entities that employ fewer than 50 full-time employees.
The new relief package also provides an additional $20 billion of targeted funding for the SBA's economic injury disaster loans (EIDL) emergency advance grants program and extends the Paycheck Protection Program (PPP) to March 31, 2021, providing $284 billion nationwide for additional first- and second-round PPP loans to small businesses and nonprofits.
The full small business resource guide is available here.