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County Expands Emergency Resiliency Loan Program

Post Date:06/23/2020 1:37 PM

Hawai'i County announced the expansion of its Emergency Resilience Loan Program. In addition to offering financial counseling and zero-interest loans to ALICE (asset limited, income constrained, employed) residents who reside on Hawai'i Island and have lost income due to COVID-19, the program is now open to those with incomes below ALICE levels (see table below):

 

# Household Members

Maximum Annual Household Income

Each Additional Household Member

1

$33,296

 

 

 

Add $13,215

for Each Household Member above 8 persons

2

$49,548

3

$65,800

4

$82,052

5

$95,267

6

$108,482

7

$121,697

8

$134,911

 

So far, over $123,000 in emergency zero-interest loans have been approved for workers and entrepreneurs. Maximum loans amounts are $2,500 for individual workers and $5,000 for self-employed persons. Funding is provided by the County of Hawai'i and the Hawai'i Community Foundation.

 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.

 “The County is pleased to expand this program to help even more working families and self-employed during this difficult time,” said Mayor Kim. “Working with the community, and our partners at the State and Federal government and non-profits, we will get through this and thrive again.”

 “The Resilience Loan Program saw a steady stream of applicants from day one because the financial impact of this pandemic has been extraordinary,” said Council Member Ashley Kierkiewicz, who introduced measures to establish and fund the program. “We reviewed the data and pivoted the program’s approach so we can help more families and entrepreneurs get access to important capital and financial empowerment to weather this crisis.”

 For more information or to see if you qualify, call 808-934-0801. To apply for a Hawai'i County Emergency Resilience Loan, visit www.HawaiianCommunity.net.  Persons without Internet access or a computer are encouraged to call 808-934-0801 to complete an application over the phone.

 

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