Hawai‘i County’s Loan Program Approves $28K to First ApplicantsJune 4, 2020, 11:21 AM HST (Updated June 4, 2020, 11:21 AM)
As of June 3, Hawai‘i County’s Emergency Resilience Loan Program has processed 121 applications and approved $28,700 for workers and entrepreneurs who have lost income due to COVID-19.
The program opened last week with funding from the county and Hawai’i Community Foundation and offers financial counseling and loans to ALICE (asset limited, income constrained, employed) residents who reside on Hawai’i Island and have lost income due to COVID-19. Maximum loan amounts are $2,500 for individual workers and $5,000 for self-employed persons.
Local community development nonprofits Hawaiian Community Assets (HCA) and Hawai’i Community Lending (HCL) are administering the program on behalf of the County. HCL provides the loans, while HCA delivers financial counseling to every borrower.
To qualify, loan applicants must fall into the ALICE category prior to COVID-19 and have not received emergency grants due to the virus.
Online loan applications are available at www.HawaiianCommunity.net. Individuals with no or limited access to the Internet or a computer may call 808-934-0801 for a paper application or complete an application over the phone. Funds will go to qualified applicants on a first-come, first-serve basis.
Applicants who have household incomes below ALICE will be referred to social service agencies for emergency grants.
Applicants who have household incomes above ALICE will be referred to their local credit unions and banks for personal loans.
To apply for a Hawai’i County Emergency Resilience Loan, visit www.HawaiianCommunity.net. Individuals without internet access or a computer are encouraged to call 808-934-0801 to complete an application over the phone.