Maui Wildfire Relief: Loans, Grants, and Forgiveness for Businesses
This act establishes financial aid programs for small businesses and non-profits on Maui affected by the 2023 wildfires. Citizens operating businesses on Maui can access easier loans, non-repayable advances, and loan forgiveness to help rebuild and retain jobs.
Key points
Access to loans for small businesses and non-profits on Maui, with simplified terms and no personal guarantee requirement for loans up to $200,000.
Non-repayable advances of up to $15,000 for eligible entities applying for a loan, prioritizing those with at least 30% economic loss.
A Maui Wildfire Paycheck Protection Program offering loan forgiveness for payroll, rent, utilities, and other operational costs.
Forgiveness of up to $1800 on disaster loans (EIDL) or a waiver of interest for up to three years; private schools may also receive principal and interest waivers.
Loan forgiveness and advances will not be included in taxable income, providing tax relief for beneficiaries.
Expired
Additional Information
Print number: 118_HR_7061
Sponsor: Rep. Case, Ed [D-HI-1]
Process start date: 2024-01-22