For help!
Whether your business is just starting,
looking to expand or barely hanging on,
there are plenty of local resources
to turn to for help.FUNDING
Community-Based Economic Development Program
The program offers grants, loans, and technical assistance to eligible nonprofit community groups to develop viable business ventures that serve local needs. Since 1991, the program has committed nearly $2.4 million to 76 community organizations. Over the last two years, funded organizations have reported leveraging every program dollar received with an additional $8 from more than 30 other public, private, and community financing sources. These efforts are anticipated to generate a minimum of 629 new business startups.
No. 1 Capitol District Building, Honolulu; 587-2772;
Economic Development Administration
This agency of the U.S. Department of Commerce has nearly $4 million in grant money for Hawaii this fiscal year.EDA funds many groups that help small businesses, including the Pacific Business Center, Immigrant Center and the Pacific Basin Development Council. Grants support revolving loan funds.
Hawaii Community Loan Fund
This organization helps community-based organizations through a revolving loan fund. There is no minimum or maximum loan but they typically range from $10,000 to $100,000. The initial operating and loan funds came from the City & County of Honolulu, Bank of Hawaii, American Savings Bank, Central Pacific Bank, First Federal Savings and Loan and the Hawaii Community Foundation. Hawaii National Bank and International Savings also have provided funds.
Hawaii Strategic Development Corp.
This is a state agency overseen by a private board of directors. Its primary mission is to provide venture capital to fledgling companies. By leveraging public funds with finance provided by local and offshore venture capital firms, HSDC provides start-up equity capital needed by innovative entrepreneurs. Since 1990, 21 companies have received funding and nearly 300 jobs have been created or sustained.
Hawaii Venture Capital Association
The 10-year-old association maintains a network of sources for alternative financing for businesses. Networking on the fourth Thursday of each month at the Plaza Club normally involves 40 to 70 people. Also holds enterprise forums.
Immigrant Center
The RED Manini MicroLoan Fund provides small loans up to $25,000, management support, and technical assistance. Start-up business loans typically range from $2,500 to $7,500. Existing business loans typically range from $7,500 to $15,000. The center, with origins back to 1973, also offers family development and case management, refugee resettlement, job training and placement, youth counseling and guidance, and help with notary, forms and translation services.
Lokahi Pacific
This nonprofit community development group uses its Rural Development Loan Program to make loans from $5,000 to $150,000 for start-up and existing businesses on Maui, Kauai and the Big Island. The interest rate is 10 percent and terms can be up to six years.The business must have been turned down by two other sources to qualify. The revolving loan fund has been operating since 1983.
Maui Economic Opportunity Inc.
Chartered in 1965, MEC provides services to the poor, elderly, immigrants, and other disadvantaged persons in Maui. The MEC Micro loan program has worked with 2,000 people interested in starting a business and, in two years, has made 100 loans ranging from $500 to $5,000 for a total of $250,000.
Office of Hawaiian Affairs
OHA, established in 1989, offers Native Hawaiians low interest business loans, training and technical assistance. The maximum loan amount is $75,000 with a maximum term of five years.Loan proceeds can be used for equipment and inventory purchases, working capital and leasehold improvements. Loan proceeds can not be used for the acquisition of real property, building construction, relending, investments or personal uses. New and existing businesses qualify. The revolving loan program is funded by the Administration for Native Americans and OHA.
Samoan Service Provider Association
The association helps with traditional employment and self employment. The business development program includes entrepreneurship training, and technical assistance to prepare business plans. The association helps prepare paperwork for microloans up to $2,500 which are made by lenders. The association is a business incubator, providing office space for eight anchor tenants and 12 affiliate tenants.
Small Business Administration
This federal agency provides loan guarantees, working with lenders. The SBA LowDoc program streamlines paperwork, and allows SBA to guarantee up to 80 percent for loans up to $100,00 and up to 75 percent for loans between $100,000 and $150,000. Last year, the SBA office guaranteed 272 loans in Hawaii for a total of $30.4 million.
Work Hawaii
This is a partnership between the City & County of Honolulu and the Oahu Private Industry Council. It works with poor people for job training and helps coordinate microbusiness loans with nonprofits. These loans range from $500 to $10,000 are for businesses with as many as five employees.
SUPPORT
Alu Like, Inc.
The entrepreneur-training project, with preference to Native Hawaiians, offers a seven-week introduction course to business. The Molokai aquaculture training project helps 16 unemployed adults on Molokai with both Hawaiian and contemporary aquaculture methods. The training and technical assistance project is for OHA revolving loan applicants who learn about entrepreneurship, bookkeeping and how to prepare a business plan.
Business Action Center
This is a central facility for issuing licenses and registration. The center served about 17,500 clients in 1996, and 23,500 clients in 1997. The bulk of business registration handled was for trade names and trademarks, with the balance in partnerships, domestic corporations, and foreign corporations. There is no charge for the service except for the permit fees, etc.
Business Information and Counseling Center
This is operated jointly by the SBA, Service Corps of Retired Executives, the University of Hawaii-Hilo Small Business Development Center Network and the Women's Financial Resource Center. The counseling center guides owners and managers in business research. A library of books, guides, videos and magazines, and counselors are also available at little or no cost.
522-8130
Hawaii Economic Development Corp.
This parent company, working with the Small Business Administration, has several subsidiaries:
Management Advisory Services Inc. was created in 1987 to provide management consulting services to minority construction contractors.
Service Corps of Retired Executives
This is a 13,000-member volunteer program which can match experienced business owners with small businesses. SCORE members can identify problems, develop solutions, and evaluate expansion.Counseling can take place at the Business Information and Counseling Center, a client's firm, online or by telephone. There is no charge.
Women's Financial Resource Center
The center helps women in business through individual counseling, business plan preparation, marketing, networking, mentoring, workshops and seminars.
ADVOCATES
Chamber of Commerce of Hawaii
The chamber lobbies for small business on issues such as reduction of general excise tax pyramiding and workers compensation reform. The chamber also provides business networking and educational forums, including a trade show in May. "Moving business forward" is a distance learning program that allows business owners and their employees to get information without attending classes outside their work environment.
National Federation of Independent Business
This is the nation's largest advocacy group for independent and small business with 610,000 members nationwide and 5,000 members in Hawaii. NFIB sends out a Hawaii state ballot once a year to survey member's interests. Positions on issues are a result of the direct balloting. NFIB publishes the Capitol Coverage newsletter and IB magazine.
Small Business Economic Revival Force
This new group seeks to work with government to reduce taxes and reform business regulations.
Small Business Hawaii
This is a small business advocacy organization with the goal of improving Hawaii's business climate. Uses various publications and sponsors special events.
UNIVERSITY
Hawaii Small Business Development Center Network
This partnership between the University of Hawaii at Hilo and the SBA has been operating for more than nine years. The center offers free individual counseling and inexpensive workshops to the public, small business owners and operators. There is a specialty center offering statewide research capabilities for small businesses and a rural development specialty center administering a major grant program.
Office of Technology Transfer and Economic Development
OTTED helps businesses, research organizations, and the broader community to access the technical expertise, research capabilities, and technologies developed by the University of Hawaii and federal research laboratories.OTTED also is responsible for patenting and licensing technologies developed at the University of Hawaii, and for supporting commercially viable research projects and their commercial spin-offs.
Pacific Business Center
The center staff of 12 professionals and MBA graduate students helps people access the university's network of experts and information resources. They can assist with feasibility studies, business plans, market research, product development, loan packaging, management audits, financial planning, personal and sales training, project planning and strategic planning. The center has helped 450 businesses since 1988.
